The issue was oversubscribed by more than 72%, the PDMO, a division of the Finance Ministry, said in an emailed statement on Monday.
On August 1, an auction of this type of security helped the government sell €100m at an average yield of 0.63%, compared to 0.72% on July 4.
The PDMO said on Wednesday that it received offers from commercial banks to deposit €430m in government funds after the government issued a €1bn 7-year bond at an average yield of 3.8% on July 20.
On June 30, the government had a total of €976.4m deposited at the Central Bank of Cyprus at an annual interest rate of -0.4%, according to the supervisory authority’s website.
Source: Cyprus Mail
Related Articles
See all articles
Related Insights
See all insightsInsight | 27 January 2025 |
Georg Bühler, ,
Digital assets are no longer a niche, but a part of modern finance attracting a growing number of investors – and there is immense potential for Cyprus to become a leading cryptocurrency hub. By fostering a more inclusive regulatory ecosystem, Cyprus can diversify its financial services sector and position itself at the forefront of digital finance, says Georg Bühler, Managing Director of Mount Pelion Capital.
Read Georg Bühler's Insight
