Insider Economy Cyprus to issue two bonds

Cyprus to issue two bonds

Cyprus has mandated investment banks to manage a double bond issue comprising a 10-year and a 20-year euro denominated bonds, the Public Debt Management Office of the Ministry of Finance announced on Monday.

“The Republic of Cyprus rated BBB- (stable) by Standard and Poor’s, Ba2 (positive) by Moody`s, BBB- (positive) by Fitch and BBBL (positive) by DBRS, has mandated Goldman Sachs, Bank of America,  CITI and HSBC to lead manage a EUR-denominated dual-tranche RegS, CACs benchmark (registered form),” the announcement says.

“The deal comprises a EUR benchmark January 2030 fixed rate tranche and a EUR benchmark January 2040 fixed rate tranche. Listing London. Denoms 1k+1k. English Law. The issue is expected to be launched in the near future subject to market conditions. FCA/ICMA stabilisation applies,” it concludes.

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