SUNDAY, 21 JAN 2018

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
GloriaJeans_266x90px
IMH LTD

Uber Co-Founder Travis Kalanick Officially a Billionaire

Markos Kashiouris: IronFX Enters into $100M Agreement with Middle East Investor

IMH LTD
MTN_07/07-10/04_468x60px

ECONOMY

Bond Issue Attracts Global Investors

Bond Issue Attracts Global Investors

Cyprus has formally issued a €750 million 5-year bond, with the new transaction set to price at a yield of 4.85%, considerably tighter than initial price thoughts of 5%.

 

Despite the initial intention of issuing a €500 million bond, the issue was oversubscribed by four times, garnering offers of up to €2 billion.

 

Now, attention is turning to the investor make-up of the island’s first bond issue since it was excluded from international markets in May 2011.

 

The analytical report issued by the Ministry of Finance explains that over 150 investors took part in the official call, which commenced on Wednesday June 18.

 

Geographically, investors represented a diverse range of locations. The statistical breakdown has been described thus: Cyprus, 14.5%; Europe (excluding the UK), 23%, UK, 45%, Germany/Switzerland, 11%; Italy, 3%; America, 7%; and Asia, 2%.

 

Moreover, the Finance Ministry has credited some 51% of the newly invested capital as having come from asset management firms, 27% from hedge funds, and 22% from banks.

 

Cyprus has been rated Caa3/B/B- by Moody's/S&P/Fitch (positive/positive/stable), and Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital have been designated the responsibility of arranging the sale.

MORE ON ECONOMY

Banking Union: First Progress Report on the Tackling of NPLs

The European Commission has welcomed the headway made in tackling non-performing loans ...

Reduction of NPLs in Cyprus and the EU

Non Performing Loans ratios have been falling in nearly all Member States, although the ...

Cyprus Economy: Improved Projections for Growth until 2019 but Risks Remain

Growth of the Cypriot economy will continue with improved projections up to 2019, as ...

FROM AROUND GOLDNEWS

   

HSBC to Pay $101.5m to Settle Currency Rigging Probe

HSBC has agreed to pay $101.1m (£72.7m) to settle a US criminal investigation into rigged currency transactions. The bank has admitted its traders ...
   

Markos Kashiouris: IronFX Enters into $100M Agreement with Middle East Investor

IronFX has changed the name of its registered company in Cyprus, to Notesco Financial Services, after the brokerage signed a deal for a significant investment ...
   

Macron: UK Must Pay Into Budget to Keep Banks’ EU Access

Britain must pay into the European Union budget and accept the jurisdiction of EU courts if it wants its banks to keep full access to the bloc’s markets ...
   

South Korean Group Files Complaint against Apple CEO over iPhone Slowdown

A South Korean consumer group has filed a criminal complaint against Apple Inc CEO Tim Cook over slower iPhone devices, after probes in Europe into allegations ...
   

House Prices up by 4.1% in the Euro Area

House prices, as measured by the House Price Index, rose by 4.1% in the euro area and by 4.6% in the EU in the third quarter of 2017 compared with the same ...
   

IN Business Awards 2017: The Winners

The IN Business Awards 2017 ceremony took place at the Hilton Park Hotel, Nicosia, on January 18, attended by business leaders, industry giants, small ...
   

GOLD Magazine: That’s Entertainment!

In Cyprus, most people’s idea of a good night out means going to a restaurant or bar while the number of cafes opening in all towns in recent years has ...
   

Banking Union: First Progress Report on the Tackling of NPLs

The European Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Gold_Digital_Edition_300x250px

IMH LTD