The Republic of Cyprus has moved to tap international markets with the mandate for a new 10-year euro-denominated benchmark bond, maturing in January 2036.
The Ministry of Finance announced on Tuesday that the issuance, part of its broader financing strategy, has been assigned to a syndicate of major international lenders as the government seeks to capitalise on its strengthened investment-grade status.
The transaction is led by Barclays, J.P. Morgan, Morgan Stanley, and Société Générale, who will act as Joint Lead Managers. The Bank of Cyprus has also been brought on board as a Co-Manager for the issuance. The bond will be issued in registered form under the Republic’s European Medium Term Note (EMTN) programme, with the transaction expected to launch in the immediate future, subject to prevailing market conditions.