Cyprus Business Now

Hellenic Bank on Monday announced that it has successfully launched and priced the issuance of €100 million Senior Preferred Notes, under its €1.5 billion Medium Term Note Programme (EMTN).

According to the bank, the Notes are priced at par with a fixed coupon of 9 per cent per annum, payable annually in arrear, while the fixed coupon will reset on 15 July 2024.

Moreover, the maturity date of the Notes is July 15 2025, with the Notes being callable at par on 15 July 2024 (3NC2), subject to meeting certain regulatory conditions as specified in their terms and conditions.

The bank stated that it is expected that settlement will occur on 15 July 2022. The Notes will be admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange and listed on the Official List of the Luxembourg Stock Exchange.

“The transaction is the Bank’s inaugural issuance of notes expected to qualify towards the Bank’s minimum requirement for own funds and eligible liabilities (MREL) and is in line with the Bank’s funding strategy in relation to MREL requirements,” the bank said in a statement.

The total registrations of motor vehicles fell by 5 per cent, dropping to 17,697 between January and June 2022, from 18,631 a year before, according to a report by the Cyprus Statistical Service (Cystat).

Passenger saloon cars decreased to 14,101 from 14,267 during that period in 2021, registering a drop of 1.2 per cent.

Of those cars, 6,132 (43.5 per cent) were new vehicles, while 7,969 (56.5 per cent) were preowned cars.

The registration of rental cars exhibited a rise of 111.1 per cent, climbing to 2,457, reflecting the strong demand for such vehicles.

In June 2022, the total registrations of motor vehicles amounted to 3,344, experiencing a rise of 2 per cent, compared to 3,279 in June 2021.

Passenger saloon cars increased by 4.3 per cent, rising to 2,588, from 2,482 in June of the previous year.

The Cyprus Stock Exchange (CSE) ended Monday, July 11 with losses.

The general Cyprus Stock Market Index was at 66.84 points at 12:26 during the day, reflecting a drop of 1.27 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 39.99 points, which represents a decrease of 1.28 per cent.

The total value of transactions came up to €13,356.

In terms of the sub-indexes, the main, alternative, and investment firm indexes fell by 1.56 per cent, 0.71 per cent and 5.77 per cent respectively. The hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-1.8 per cent), Demetra (-6.19 per cent), Hellenic Bank (-0.24 per cent), the Cyprus Cement Company (-2.36 per cent), Louis PLC (+5.41 per cent) and Pandora (-9.68 per cent).