According to comprehensive news from WorldWay, Cyprus Finance Minister Georgiades recently stated that Cyprus has decided to issue 7.5 billion euros bonds with a maturity of 4.75%. This marks the return of this Mediterranean island nation to the international capital markets.
Georgiades stated that Cyprus originally planned to issue 5 billion euros bonds, but due to market demand for this bond reaching 20 billion euros, and the interest rate being lower than expected at 4.9%, it was decided to increase the issuance amount to 7.5 billion euros. However, he did not disclose the timing of the bond issuance.
Georgiades said: “This bond issuance is a decisive step for Cyprus's systematic return to the international capital markets.”
Cyprus was pushed out of the international capital markets in May 2011 due to the economic crisis and reached a 100 billion euro bailout agreement with the Eurogroup and the International Monetary Fund in March 2013. Cyprus was not expected to return to the international capital markets before the end of 2015.
