Cyprus Plans Public Market Reentry
Cyprus is devising a benchmark public debt purchasing; if it succeeds the act would result in the swiftest reentry into the bond market by a state after a monetary rescue.
Deutsche Bank, Goldman Sachs, HSBC, UBS and VTB Capital have been authorized by the issuer, to orchestrate fixed income investor dialogues in Europe before the sale.
In April, the island sold a 100-million-euro private placement to an international investor. It held a 6.5% coupon and has shifted to 5%. Regarding its IMF adjustment protocol and European Stability Mechanism, the nation has shown better strides than predicted.
Moody's, S&P and Fitch global ratings agency current hold Cyprus at Caa3, B and B-. Two months ago, Standard and Poor improved its rating by one rank. On July 18th, Moody's is set to review Cyprus' financial rating.
Related items
-
The body found on a Cyprus beach belongs to a missing 56-year-old Russian businessman
-
Cyprus coalition teeters as allies demand probe into ‘secret video’ scandal
-
Cyprus rocked by video allegedly showing bribes at the Presidential Palace - Security services launch probe
-
Outrage over video with alleged bribe dialogues at the Presidential Palace of Cyprus
-
Greece-Israel-Cyprus build defense axis: Message of deterrence to Ankara and Tehran
