Press Release by the
Ministry of Finance
on
the
Euro
Medium Term Note Programme
The
Ministry of Finance of the Republic of Cyprus would like to announce
the successful issuance via private placement of a six year
international bond for a nominal value of EUR 100.000.000 at a
coupon rate of 6.50% p.a. The said bonds will be listed at the London
Stock Exchange and be settled via Euroclear. This access to the
Eurobond market is taking place under its newly updated EMTN
programme.
The proceeds of the
above-mentioned EMTN transaction will be used for public debt
management purposes, including government financing, always in
compliance with Cyprus’ economic adjustment programme.
The
success of the above transaction is attributed to the gradual
rebuilding of confidence to the 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 assessing market conditions and options as part of the
broader strategy aiming towards the full restoration of market
access.
------------------------
