Cyprus to issue two bonds

Cyprus has mandated investment banks to manage a double bond issue comprising a 10-year and a 20-year euro denominated bonds, the Public Debt Management Office of the Ministry of Finance announced on Monday.

«The REPUBLIC OF CYPRUS, rated BBB- (stable) by Standard and Poor`s, Ba2 (positive) by Moody`s, BBB- (positive) by Fitch and BBBL (positive) by DBRS, has mandated GOLDMAN SACHS, BANK OF AMERICA,  CITI and HSBC to lead manage a EUR-denominated dual-tranche RegS, CACs benchmark (registered form)», the announcement says.

«The deal comprises a EUR benchmark January 2030 fixed rate tranche and a EUR benchmark January 2040 fixed rate tranche. Listing London. Denoms 1k+1k. English Law. The issue is expected to be launched in the near future subject to market conditions. FCA/ICMA stabilisation applies», it concludes.