Local
news | 25 September 2018 | ServPRO Accountants & Consultants

Cyprus issues new 10 year bond

Shortly following Cyprus’ sovereign rating back to investment grade by the agency Standard & Poor’safter being rated as junk for more than 6 years, the government announced on 18 September 2018that it will proceeded with the issue of a a new 10 year bond of € 1.5 billion at a rate of 2.375% (2.40%).

Speaking of the Cypriot economy, the Minister of Finance Mr. Harris Georgiades said that this development is “a vindication of the decisions of responsibility and the great effort of all our productive forces”.

Also, addressing the upgrade of Standard & Poor’s, the Minister noted:

“The growth perspective is reinforced. Our country is financially shielded. The difficult decisions we were called upon to take are being justified.”

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