Cyprus issues 7-year bond at an annual rate of 2.75%, Georgiades says (Corrrect)

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(Corrects by replacing yield with interest rate in first paragraph, headline)

By Stelios Orphanides

Finance minister Harris Georgiades said that the government borrowed €850m on Tuesday with the issue of a 7-year bond at an interest rate 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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Stelios Orphanides is a journalist at CyprusBusinessMail.com. To contact Stelios Orphanides: [email protected]

  • Jack Iacovou

    good job.
    Restructure your debt at a lower cost. Simple.