Cyprus Mail
Cyprus

Yield drops to 2.75% as Cyprus issues 7-year bond, Georgiades says

Harris Georgiades

Finance minister Harris Georgiades said that the government borrowed €850m on Tuesday with the issue of a 7-year bond at an average yield of 2.75 per cent.

The issue was more than four times oversubscribed with total subscription reaching €3.7m, the finance minister commented on Twitter.

The receipts will serve pay back “existing, more expensive debt,” he said.

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