The yield of the 1-year EMTN bond, issued by the Republic of Cyprus in the international markets, reached 10%, with the issue being exceeded by almost eight times.
According to KYPE, with this issue the Republic of Cyprus raised an amount of € 1 billion, with bids amounting to € 7,8 billion.
According to the same information, the initial guidance from the publishing consultants provided a yield of 75 basis points above the reference price (midswap), which corresponds to about 1,10%, while demand seems to have pushed down the yield which fell to 65 basis points above the reference value.
Source: KYPE