Cyprus has issued a seven-year Eurobond worth €1 billion.
According to Cyprus News Agency (CNA) sources, the initial guideline given by the issuing advisors is approximately 60 basis points above the reference price (mid-swap) corresponding to a yield of 2.735%.
As market players estimate, over time the guideline may be revised downwards.
In conjunction with this announcement, Cyprus has also revealed a capped offer to redeem up to €500 million of an existing €1.5 billion bond with a 2.375% interest rate, maturing in September 2028.
The redemption price has been set at 98.4% of the original amount.
(Source: InBusinessNews/CNA)
