Bank of Cyprus to raise EUR 500 mln

Bank of Cyprus has received an approval by the Central Bank of Cyprus to proceed with the issue of Senior Debt of EUR500 mln. The issue will be part of the Bank’s Euro Medium Term Note (EMTN) Programme of a total size of EUR2 bln.

The proceeds of the issue will be used to fund loans to customers of the Group in the two new markets it has recently entered into, Russia and Romania.