Cyprus is planning its first sale of long-dated government debt since the financial crisis that left the island in need of a EUR 10bn bailout.
According to one Cypriot official, the country plans to raise about €1.5bn before the end of the year as stimulus measures from the European Central Bank and economic recovery spurs renewed investor interest, pushing down the country’s borrowing rate.
The sale planned is a benchmark, 10-year bond. Two years ago, Cyprus suffered a banking collapse that resulted in capital controls, the unexpected imposition of losses on depositors and rescue funding by international creditors. Read More
