Cyprus Mail

Government sells €222m in 7-year government bonds at a 3.23% yield

By Stelios Orphanides

The government sold on Tuesday a total of €221.9m in seven-year government bonds at an average yield of 3.23 per cent, the public debt management office said.

The government offered a total of €150m in bonds with an annual interest rate of 3.25 per cent and the issue was 51 per cent oversubscribed, the PDMO said.

It is the first time that the government issues this type of security at an auction in Cyprus, according to PDMO and the Central Bank of Cyprus. In May, the government issued an international 7-year bond at an average yield of 4 per cent.

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