Cyprus has mandated Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital to arrange road shows for possible bond issue, the finance ministry said on Tuesday.
Finance Minister Harris Georgiades has said the government would decide in the coming weeks on Cyprus` return to international markets. This would come more than a year earlier than originally anticipated. Cyprus is under an EU/IMF programme that covers the island`s financial needs until the first quarter of 2016.
“The Republic of Cyprus, rated B (positive) by Standard and Poor`s, Caa3 (positive) by Moody`s and B- (stable) by Fitch, has mandated Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital to arrange a series of fixed income investor meetings in Europe,” the ministry’s release said.
It adds that “a EUR-denominated Reg S Registered only transaction may follow subject to market conditions.” (CNA)