Bank of Cyprus issues 1 bln in covered bonds

Bank of Cyprus said on Monday it had completed the issue of 1 bln euros in three-year covered bonds paying an interest of 3 month Euribor plus 1.25%.
The bonds were launched off a covered bond programme worth up to 5 bln euros, the bank said in a statement. The three-year duration can be extended by one year and are secured by mortgages in Cyprus and other assets of the bank, it said.