BOC establishes Euro Commercial Paper programme

The Bank of Cyprus Group has proceeded with the establishment of a Euro Commercial Paper Programme of a total size of EUR 500 mln euros.

Under the Programme, the BOC shall have access to short term funding, mainly from Europe, a BOC statement said.

The proceeds of the issues will contribute towards the diversification of the sources of funding of the BOC.

The Bank of Cyprus has appointed Deutsche Bank as Arranger of the Programme and Bank of America Securities, Deutsche Bank and Goldman Sachs International as Dealers.

Bank of Cyprus is due to issue it first quarter results on May 11.