Drop in ΒOC bond yields “reflecting turnaround”

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Drop in ΒOC bond yields “reflecting turnaround”
 © BusinessMail 2017
By Stelios Orphanides

The secondary market yield on the Bank of Cyprus bond it issued in January fell by 246 basis points reflecting economic recovery on the island and the bank’s “turn-around story,” an asset manager said.

The yield on the €250m corporate bond issued by the bank on January 12, a week after it fully repaid its outstanding emergency liquidity and a week before its official listing at the London Stock Exchange, stood at 6.79 per cent on Tuesday morning, according to a Bank of Cyprus document seen by the Cyprus Business Mail. The bid price of the subordinated tier 2 bond,...

Drop in ΒOC bond yields “reflecting turnaround”

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