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United States : FINANCE MINISTRY: six year ?international bond issued via PRIVATE PLACEMENT

May 3, 2014

A six year ?international bond has been successfully published via private placement for a nominal value of 100,000,000.

The Ministry of Finance of the Republic of Cyprus has declared that it was issued at a coupon rate of 6.50% p.a., the Ministry of Finance of the Republic of Cyprus has announced.

The said bonds would be listed at the London Stock Exchange and be settled through Euroclear. This access to the Eurobond market takes place under its newly updated EMTN programme.

The EMTN transactions proceeds would be utilized for public debt management purposes, comprising government financing, always in compliance with Cyprus economic adjustment programme.

It further continues that the success of the transaction is assigned to the gradual rebuilding of confidence to Cyprus economy which in turn is a result of the stronger than expected performance and full compliance of the Republic of Cyprus to the ESM/IMF adjustment programme.

The Ministry of Finance will continue evaluating market conditions and options as part of the broader strategy aiming towards the full restoration of market access.

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Source: TendersInfo (India)

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