CYPRUS: 6-year retail bond tops €17.5 mln

The Public Debt Management Office at the Ministry of Finance announced that the fifth series of the 6-year retail bonds (May) attracted a total of 17,457,800 euros, far above the monthly target of 10 mln.
Of the 46 bidders, 39 were from local investors, while the seven foreign applicants accounted for 15.8 mln euros, corresponding to six bidders at 2.5 mln each and one at 800,000 euros. This suggests that six more non-EU investors have now applied for naturalisation, as part of the government’s 2013 incentives to attract foreign direct investments.
The next series for June, the sixth of the year, will open to bidders from May 3 to 20 and will be issued on June 1, with a target of 10 mln euros.