Cyprus prices dual EMTN Tranche for €1.75 billion

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The Republic of Cyprus has priced on Tuesday two new benchmark-sized Euro Medium Term Notes for a total amount of €1.75 bn with Finance Minister Constantinos Petrides expressing satisfaction.

An official press release said the €1.25 bn 7-year EMTN was priced at spread of 165 bps over the mid-swap rate and the €0.5 bn 30-year EMTN was priced at spread of 215 bps over the mid-swap rate.

The combined orderbook reached €2.6 bn (€1.8 bn for the 7-year Note and €0,8 bn for the 30-year Note).

It further said statistical details will be released on Wednesday.

Finance Minister Constantinos Petrides expressed satisfaction with the two new EMTN, noting the combined orderbook rose to €2.6 bn which indicates that in this difficult economic time, which is very uncertain due to the coronavirus pandemic, the Cyprus economy continues to enjoy th