Cyprus issues 4.75% 5-year bond in private placement

Cyprus sold 145 mln euros in five year eurobonds yielding 4.75% in a private placement on Friday, the Finance Ministry said.
The names of the investors were not disclosed. The placement method is a first for Cyprus, which normally issues bonds domestically through competitive bids or internationally through a syndication.
"Subject to market conditions, we may use this again," said Phaedon Kalozois, director of Public Debt Management. "If broader market conditions improve we may also consider an issue through syndication, as we did last year." The bond was launched off Cyprus's euro medium term notes programme, which presently has a 6 billion euro ceiling. With Friday's issue, some 4.69 bln euros has been used.
Cyprus raised one billion euros in a 5-year eurobond last October, which then yielded 3.84%.