Newsroom
Cyprus is preparing to return to the international debt markets with a new long-term sovereign bond, according to an announcement by the Public Debt Management Office at the Ministry of Finance.
The planned transaction regards a euro-denominated benchmark bond with a maturity of ten years, extending to January 2036. Four major international banks, Barclays, J.P. Morgan, Morgan Stanley, and Société Générale, have been appointed to act as joint lead managers for the issuance. In addition, Bank of Cyprus will take part in the deal in the role of co-manager.
The bond will be issued under the Republic of Cyprus’s EMTN (Euro Medium-Term Note) programme and is expected to be launched in the near term, provided that market conditions remain favourable. The securities are intended to be issued in registered form and targeted at international investors.
The announcement also highlighted the country’s current sovereign credit profile. Cyprus holds an A3 rating with a stable outlook from Moody’s, A- with a positive outlook from both S&P and Fitch, and an A rating with a stable outlook from DBRS, underscoring its improved standing in international capital markets.
