Cyprus pays off costly crisis loan early

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Cyprus pays off costly crisis loan early
 © KNEWS 2020
The Cypriot finance minister says the government is repaying an IMF rescue loan faster and at a lower rate after a double bond issuance expected to secure most of the country’s borrowing needs for 2020.

Finance Minister Constantinos Petrides expressed on Tuesday his satisfaction over the conclusion of the issuance of two bonds denominated in euro currency with low interest rates, a 10-year bond for €1 billion and a 20-year bond for €750 million.

According to the Cyprus News Agency, their indicative yields so far stood at 0.73% for the 10-year bond...


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This article was automatically added to our system 15-1-2020

Cyprus pays off costly crisis loan early


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