Cyprus pays 3.9% to issue 31-week debt

Cyprus sold 50 mln euros of 31-week government treasury bills at an average of 3.90% on Thursday, the Finance Ministry said.
The sale was above the 40 mln it had initially sought to issue. The finance ministry has not issued 31 week bills before, and the closest in maturity issued recently were 26 week bills in March with an average yield of 2.74%.
The island's central bank governor has warned it could be the latest euro zone country to need a bailout after a munitions explosion that decimated its main power plant.