CYPRUS: PDMO raises €11.8 mln from 6-year retail bonds

The Ministry of Finance said it sold EUR 11.78 mln six-year retail bonds due from Novenmber, mildly oversubscribed above the monthly target of 10 mln.

The Public Debt Management Office, said that for the first eleven series (January-November) the Ministry of Finance sold a total of EUR 194.6 mln worth of the government bonds, of which EUR 61.5 mln to Cypriot investors and EUR 133.1 mln to foreign investors.
The application period for the eleventh series ended on October 19 as 60 applications were received for a total of EUR 11,784,500. From the bids accepted, 56 were submitted by Cypriots and four by foreign individuals. The values ranged from EUR 1,500 to 2.5 mln. EUR 8.6 mln were form foreign investors.
The Ministry also announced that it will proceed with the 12th series, maturing in 2021 with the monthly EUR 10 mln ceiling. The bonds will be issued on December 1 and the application period will be November 2-20.