10-yr bond yields drop to 3.83%

Financial Mirror (Cyprus) - - FRONT PAGE -

Ten-year bond yields dropped on Mon­day to 3.83% from 4.01%, close to the all time low of 3.81% recorded in Au­gust 2010, in the wake of the ap­proval of the in­sol­vency frame­work on Satur­day, paving the way for the coun­try to tap into in­ter­na­tional mar­kets. The 5-year bond yield dropped to 3.79%. Ex­cluded from the in­ter­na­tional cap­i­tal mar­kets since May 2011, Cyprus is­sued a EUR 750 mln 5-year bond last June. The is­sue was over­sub­scribed by four times garner­ing of­fers of up to EUR 2 bln, but the coupon rate was still high at 4.75% with a 4.85% yield.

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