Ministry of Finance’s issuance of six-year bonds oversubscribed

The Ministry of Finance has successfully raised €52.5 million, after a €10 million six-year bond, issued for natural persons, was oversubscribed by more than five times.

The Public Debt Management Office announced that it received eighty seven applications for a total amount of €52,509,400.

Sixty seven applications were from Cypriots and twenty from foreign investors.

Foreign investors applied for bonds worth €46,550,000.

The Public Debt Management Office said that the issuance of six year bonds of the Republic of Cyprus for natural persons will continue with the ninth series on September 1 2016.

Investors can apply from August 1-19 2016.

Source: InCyprus