Published on 4/16/2020 in the Prospect News Emerging Markets Daily.
New Issue: Cyprus sells €1.75 billion bonds in tranches due 2027, 2050
By Marisa Wong
Los Angeles, April 16 – Republic of Cyprus issued €1.25 billion of 1½% bonds due 2027 and €500 million of 2¼% bonds due 2050, according to a notice.
The indicative yields for the seven-year and 30-year bonds were 1.55% and 2.33%, respectively, according to a prior press release.
The republic said it was issuing the bonds to strengthen liquidity to deal with the economic consequences of the Covid-19 pandemic.
| Issuer: | Republic of Cyprus
|
| Issue: | Bonds
|
| Amount: | €1.75 billion
|
| Listing date: | April 16
|
| Listing: | London
|
|
|
| Seven-year bonds
|
| Amount: | €1.25 billion
|
| Maturity: | April 16, 2027
|
| Coupon: | 1½%
|
| Indicative yield: | 1.55%
|
|
|
| 30-year bonds
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| Amount: | €500 million
|
| Maturity: | April 16, 2050
|
| Coupon: | 2¼%
|
| Indicative yield: | 2.33%
|
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