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ECONOMY

Cyprus’ Borrowing Cost Continues Downward Trend

Cyprus’ Borrowing Cost Continues Downward Trend

The borrowing cost of the Republic of Cyprus is continuing its downward trend, as the ten-year bond yield has fallen to historically low levels in recent months, the Cyprus News Agency reports.  

The 10-year Cypriot bond with a 2.38% coupon issued in September 2018 hit a new historic low of 0.824%, from 0.92%, 10 days ago. The yield of the 10-year bond fell by 51.2 basis points within a month, from 1.336% on May 17.

The yield difference between the Cypriot 10-year bond and Germany’s corresponding bond stood at 107.6 basis points, from 205 basis points in December 2018.

The yield of the 15-year bond issued by Cyprus in February 2019 with coupon of 2.75%, declined to 1.38% from 1.53% on June 7, while a month ago it exceeded 2%.

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