6-year bond sale tops 17.5 mln

Financial Mirror (Cyprus) - - FRONT PAGE -

The Public Debt Man­age­ment Of­fice at the Min­istry of Fi­nance an­nounced that the fifth series of the 6-year re­tail bonds (May) at­tracted a to­tal of 17,457,800 eu­ros, far above the monthly tar­get of 10 mln.

Of the 46 bid­ders, 39 were from lo­cal in­vestors, while the seven for­eign ap­pli­cants ac­counted for 15.8 mln eu­ros, cor­re­spond­ing to six bid­ders at 2.5 mln each and one at 800,000 eu­ros. This sug­gests that six more nonEU in­vestors have now ap­plied for nat­u­ral­iza­tion, as part of the govern­ment’s 2013 in­cen­tives to at­tract for­eign di­rect in­vest­ments.

The next series for June, the sixth of the year, will open to bid­ders from May 3 to 20 and will be is­sued on June 1, with a tar­get of 10 mln eu­ros.

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