Cyprus to issue a new 7-year bond

Cyprus is expected to issue a new 7-year bond in the near future, the Public Debt Management Office said on Monday.

The Republic of Cyprus, with a credit rating of BB + (stable) by Standard and Poors, B1 (positive) by Moodys, BB- (positive) by Fitch and BBL (stable) by DBRS has hired the banks Citi, Goldman Sachs International Bank and HSBC to act as lead managers for a new 7-year bond issue in euro” a press release of the Office said.

The issuance is expected to take place in the near future subject to market conditions it added.

During the same period Cyprus will proceed to the exchange / repurchase of the following existing bonds of the Republic:

Eurobond 2019 4.75% XS1081101807

Eurobond 2020 4.625% XS0483954144

Eurobond 2020 6.5% XS1064662890

A relevant announcement was made at the London Stock Exchange on the following link

Source: Cyprus News Agency