Cyprus issues new 7year EMTN bond amounting to Euros 850 million

Cyprus issued on Tuesday a 7-year EMTN bond amounting to 850 million euros, according to a lead managers press release.

The coupon was set to 2.7% and the yield to 2.8%, the release added.

Total bids amounted to Euros 3.7 billion.

The Finance Ministry said in a statement issued on Monday that it intends to utilise this issuance to buyback three EMTN bonds maturing in 2019 and 2020 with a face value of Euros 1.4 billion with a higher yield.

So far there was no information concerning the amount of bonds to be repurchased.

Source: Cyprus News Agency