Thursday May 28, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus mulls tapping bond market by September

Cyprus is considering tapping the bond market by September, according to two government officials directly involved in the process.

One of the officials, who asked not to be identified as no final decision has been made, said the initial offering will be for about 500 million euros and will probably be held after a share sale by the Bank of Cyprus, the country’s biggest bank.

The government is trying to build a yield curve for Cypriot sovereign securities, following a four-year exile from international markets, which left the country dependent on a 10-billion-euro lifeline of emergency loans from the euro area and the International Monetary Fund.

The September issue would be the second bond sale after a June offering, which saw Cyprus raise 750 million euros in a sale of five-year notes to yield 4.85 percent.

The sale will also help the government replace internal short-term borrowing with cheaper longer-term financing, one official said.

Last month, Cypriot Finance Minister Harris Georgiades said the country would issue new bonds once market conditions improve.

Cyprus was granted a 600-million-euro aid tranche on Monday, as officials representing the country’s lenders said its economic adjustment program is on track and recession is bottoming out.

Bank of Cyprus said on July 4 that it will “explore investor interest for a potential capital increase,” following an ultimatum by Central Bank Governor Chrystalla Georghadji to raise at least 1 billion euros in new capital by August 8, before euro-area bank stress tests.

[Bloomberg]

ekathimerini.com , Tuesday Jul 8, 2014 (21:35)  
New measure to benefit tax dodgers
OTE planning to hire up to 500 employees
ENFIA to drop up to 30 pct this year
Drachma clause demands are a deja-vu for hoteliers
Athens, creditors offer conflicting views on negotiations
Prime Minister Alexis Tsipras said Wednesday that a deal with creditors was “close” and government officials said an agreement was being drafted but representatives of the country’s creditor...
Opposition presses PM over deal with lenders
Opposition parties urged Prime Minister Alexis Tsipras on Wednesday to seal an agreement with Greece’s lenders as soon as possible but also to inform them of what it plans to agree to. “What...
Inside News
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
SOCCER
AEK Athens returns to top league after financial collapse
Greek club AEK Athens has just returned to the country's top soccer league, two years after financial collapse sent it to a lower league. One of the country's largest clubs, AEK sealed its s...
Inside Sports
COMMENTARY
Romantic notions meet reality
Before the elections, there was a considerable number of people who totally disagreed with the ideas and program put forward by SYRIZA, but they expected that the leftist party would, at lea...
EDITORIAL
Solving the Gordian Knot
The leftist-led government, as well as the country, have both been seriously damaged and exposed to risk from the evident indecision and repeated contradictions dogging the ongoing negotiati...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panathinaikos conquers PAOK through Tavlaridis goal
2. New measure to benefit tax dodgers
3. OTE planning to hire up to 500 employees
4. ENFIA to drop up to 30 pct this year
5. Drachma clause demands are a deja-vu for hoteliers
6. ECB tells Athens to reach a deal
more news
Today
This Week
1. Some 300 mln left banks on Tuesday
2. Romantic notions meet reality
3. Target of Greek scorn shapes nation’s fate as IMF’s storm-chaser
4. The G-7's problem: Can the world deal with a Greek default?
5. Solving the Gordian Knot
6. FYROM PM blames Greece for name impasse
Today
This Week
1. Conspiracy madness
2. Hotel contracts with a ‘Greek default clause’
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Merkel said to plan address for Greece if deal reached
6. Gov’t proposes bank transaction levy
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.