The Bank of Cyprus has received two major distinctions at the 2024 EMEA Finance Achievement Awards, recognising its €300 million green bond issued in April 2024.

According to an announcement by the bank on Wednesday, the awards were for Best Green Bond in Europe and Best Financial Institution Bond in Southeastern Europe.

“The distinctions highlight the exceptional success of the issuance, which attracted interest from more than 120 institutional investors and was oversubscribed by more than four times, reaching €1.3 billion,” the bank said in its statement.

It added that this figure marked the largest order book for a senior preferred issuance by the Bank of Cyprus in the past decade.

Moreover, the announcement mentioned that this is the second consecutive year the Bank of Cyprus has been honoured by EMEA Finance.

In 2023, the bank received the award for Best Financial Institution Bond in Southeastern Europe for the successful issuance of €220 million in AT1 bonds in June of that year, confirming its strong presence in the debt capital markets.

“We are particularly pleased that our highly successful €300 million green bond has received two regional awards at the annual EMEA Finance Achievement Awards” said Panicos Nicolaou, Chief Executive Officer of the Bank of Cyprus.

“This international recognition highlights the importance of the issuance, whose proceeds will finance significant sustainable projects in Cyprus” he added.

“It forms a key pillar of our strategy to lead the country’s sustainable transition and strengthens the bank’s sustainability journey” he concluded.