Cyprus Faces Greek Investor's Lawsuit
The Cypriot government has been met with a lawsuit from Geek investors who suffered massive losses, due to the nation's financial turmoil and required bailouts, according to reports.
- Published in Economy
The Cypriot government has been met with a lawsuit from Geek investors who suffered massive losses, due to the nation's financial turmoil and required bailouts, according to reports.
As stated by two Cypriot governmental delegates, the nation is contemplating a bond market sale by September, as reported by Parikiaki. It is thought that the offering will be for approximately 500 million euros, that will most likely follow a Bank of Cyprus share sale.
The nation's government is attempting to create a sovereign securities yield curve. The discussed bond purchasings will mark the second one, after last month's. June's sale generated 750 million euros in five-year bonds, with a 4.85% yield.
Yesterday, the Bank of Cyprus stated that it will downsize its EBC funding dependency by €0.95 billion, as a result of a government bond repayment portion.