Cyprus issued a 10-year bond of € 1 billion - At € 8 billion the offers

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

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