ECONOMY

Cyprus raises €1 bln after reopening 2024, 2040 bonds

cyprus-raises-e1-bln-after-reopening-2024-2040-bonds

Cyprus raised 1 billion euros from the reopening of its existing 2024 and 2040 bonds via a syndicate of banks, according to a lead manager memo seen by Reuters on Tuesday.

The island country added €500 million to its December 2024 and January 2040 bonds, the lead manager said, bringing the total outstanding amounts to €1 billion and €1.25 billion respectively.

The 2024 add-on priced for a yield of 0.349% and the 2040 add-on for a yield of 1.493%, the lead manager said.

The shorter bond received demand of €2 billion and the longer €3 billion, according to an earlier update.

[Reuters]