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YPOIK: Extremely successful new issue of a 5-year bond

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YPOIK: Extremely successful new issue of a 5-year bond

The issuance of the 5th bond of the Republic of Cyprus, which is in progress, seems to be covered eight times so far, according to a statement by the Minister of Finance, Konstantinos Petridis.

Specifically, YPOIK expressed its satisfaction for the extremely successful new issue of a 5-year bond for € 1.0 billion. The bond yield has been finalized at 0.053% per annum. This is the lowest interest rate ever achieved for a period of 5 years in the Republic of Cyprus.

He noted that the requested amount has been exceeded 8 times and that the total supply has reached € 8 billion, which, combined with the indicative performance, shows that in this difficult international economic situation, due to the pandemic, international Markets continue to show confidence in the Cypriot economy and its policies.

At a time when the crisis has severely affected much of economic activity, the issuance of this bond boosts liquidity to address the economic impact of the pandemic he added.

Finally, he stressed that the primary concern of the government was, and remains, to secure the necessary ammunition, which will allow us to support the welfare state and the health system until the economy recovers, while ensuring fiscal sustainability.

Source: www.philenews.com

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