Cyprus seeks to update investors

Cyprus plans to tap the international bond market and to this end the Finance Ministry announced recently that is has mandated four large international banks to update investors on recent developments and funding strategy.

Bailed-out Cyprus returned to the bond market in June 2014 making the fastest comeback of any bailed out eurozone country by selling a five-year bond.

In a press release issued on Monday, the Public Debt Management Office (PDMO) of the Finance Ministry notes that “the Republic of Cyprus, rated B3/B+/B-/BL (stab/pos/pos/stab) by Moody’s, S&P, Fitch and DBRS has mandated BARCLAYS, HSBC, MORGAN STANLEY and SG CIB to arrange a global conference call in order to update investors on recent developments and funding strategy”.

Source: Famagusta Gazette