The bond yield on Tuesday reached 5.044% compared to a 4.68% on June 12, which represented a three-year low. The spread compared with the German 10-year bond, considered as benchmark, stood at 3.80%

The yield of the 5-year bond was issued on June 18 with a 4.75% coupon and a 4.85% yield reached 4.875%.

Cyprus’ return to the markets after 2010 came 15 months after the country entered a financial adjustment programme, agreed with the European Commission, the European Central Bank and the IMF on March 2013.

According to Fitch rating agency, Cyprus’ return to the markets was the quickest compared to other bailed out countries.

Ireland and Portugal took 20 months to return to the markets following their entry to a programme, whereas Greece took approximately fouryears.

Source: Famagusta Gazette