By Rebecca Melvin
New York, Sept. 18 – The Republic of Cyprus priced €1.5 billion of 2 3/8% 10-year notes (Ba2/BBB-/BB) on Tuesday at 99.78 for a yield of 2.4%, according to a syndicate source.
Pricing on the Regulation S notes was tightened from the 2.5% area when books opened and from the 2.6% area ahead of books opening.
Barclays, JPMorgan, Morgan Stanley and Societe Generale CIB were joint lead managers for the issue, which had orders in excess of €5.675 billion when the books closed.
The issue will be listed on the London Stock Exchange.
| Issuer: | Cyprus
|
| Issue: | Notes
|
| Amount: | €1.5 billion
|
| Maturity: | Sept. 25, 2028
|
| Bookrunners: | Barclays, JPMorgan, Morgan Stanley and Societe Generale CIB
|
| Coupon: | 2 3/8%
|
| Price: | 99.78
|
| Yield: | 2.4%
|
| Trade date: | Sept. 18
|
| Settlement date: | Sept. 25
|
| Ratings: | Moody’s: Ba2
|
| S&P: BBB-
|
| Fitch: BB
|
| Distribution: | Regulation S
|
| Talk: | 2.6% area yield initially, then 2.5% area
|
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