CYPRUS: Four more passports at €2.5 mln each

The Public Debt Management Office of the Ministry of Finance sold retail bonds worth EUR 14.1 mln through 85 offers that had been submitted for the March series.

 
The PDMO said that of the 85 applications accepted, 81 were submitted by Cypriots and four by foreign investors, with the latter raising EUR 10 mln.
Cypriot investors bid for the remaining EUR 4,142,900 with offer starting from 1,500 euros.
The government is once again on track to raising at least EUR 100 mln a year through the retail bonds that carry a higher interest rate than deposit rates at commercial banks, in addition to a lower tax rate of just 3%, compared to 30% imposed on bank interest.
The PDMO said that it will continue with the fourth series of six-year bonds, maturing in 2022 with a EUR 10 mln ceiling. The bonds will be issued on April 4 and the application period will be March 1-18 March.