The Republic of Cyprus has opened books on its new euro June 2019 benchmark bond on Wednesday with official guidance on the bond of 4.90% area, according to a lead.
This is tighter than initial price thoughts released Tuesday at 5% area. Indications of interest on Wednesday morning top 1.5bn.
Deutsche Bank, Goldman Sachs, HSBC, UBS and VTB Capital are arranging the sale.
Cyprus is rated Caa3/B/B- by Moody’s/S&P/Fitch (positive/positive/stable). (Reuters)