Foreign investors bid for more than three times the amount of retail bonds offered by Cyprus in December 2014 and bought the vast majority of six-year issue, the Finance Ministry said recently.
Cyprus accepted bids for bonds worth €36.65 million from 49 investors after an initial offer of €10m worth of bonds, financial authorities said.
Bailed out by international lenders in 2013, Cyprus launched a retail bond programme in May 2014.
The coupon on the bonds fluctuates between 2.75% and 5.75%, depending on how quickly they are redeemed. Some 93% of the December bids were submitted by foreign investors, Cyprus's Finance Ministry said in a statement.
The issue date is January 2, 2015. Registration for a second bond issue to retail investors worth up to €10m would be valid from January 2 to January 20, 2015, with a February 2 issue date, the Finance Ministry said.
Source: Cyprus Mail