Cyprus is looking for investors to issue a sustainable bond, the Financial Director of the Public Debt Management Office, Phaedonas Kalozois, confirmed to CNA.
Kalozois had bee asked to confirm a Reuters story, according to which, Cyprus' funding team will hold an investor call on Tuesday followed by investor meetings on Wednesday and Thursday.
"The bond will only be issued if the market conditions allow it," Kalozois clarified.
What we are doing now, he added, "is contacting investors."
"We will see the amount and the rest of the conditions next week", he said.
According to an investor presentation in the Public Debt Management Office's website, Cyprus has identified €1.06 billion of assets to fund through its sustainable bond, 83% of which are social projects and 17% green.
Barclays, HSBC, JPMorgan, Morgan Stanley και Societe Generale will manage the deal, Kalozois confirmed.
Green/sustainable bonds are a financing tool that will offer Cyprus multiple advantages as it will provide access to new investors and increase interest in the international capital markets for the Republic's. While most countries issue green bonds, Cyprus chose to proceed with issuing a sustainable bond, to include funding for social projects, as well as green ones.