Cyprus to Issue New 7-Year Bond

Cyprus is expected to issue a new 7-year bond in the near future, the Public Debt Management Office said on June 19.

“The Republic of Cyprus, with a credit rating of BB + (stable) by Standard and Poor`s, B1 (positive) by Moody`s, BB- (positive) by Fitch and BBL (stable) by DBRS has hired the banks Citi, Goldman Sachs International Bank and HSBC to act as lead managers for a new 7-year bond issue in euro" a press release of the Office said.

“The issuance is expected to take place in the near future subject to market conditions” it added.

During the same period Cyprus will proceed to the exchange / repurchase of the following existing bonds of the Republic:

Eurobond 2019 4.75% XS1081101807

Eurobond 2020 4.625% XS0483954144

Eurobond 2020 6.5% XS1064662890

Source: Gold News

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