EFSF set to launch 5-year bond part-guaranteed by Cyprus

The European Financial Stability Facility (EFSF) is set to launch a new five-year benchmark bond on Tuesday that remains part-guaranteed by bailed-out Cyprus.

The euro rescue fund, rated Aa1/AA+/AAA, said in an e-mailed statement yesterday that it has received a request from Cyprus to step out as a guarantor, but added that this required the approval of the remaining guarantors, who are not set to meet until April 25.