The Republic of Cyprus, according to the provisions of the Public Debt Management Law 2012-2016 and the General Terms of Issuance for Government Bonds by Private Placement, has issued 5 government bonds with value dated 13th July 2018 for a total nominal amount of €3,19 billion maturing between 5 to 53 months.
A private placement means raising funding by offering shares, stocks, bonds or securities to a small group of sophisticated investors. Investors of private placements could include larger banks, mutual funds, insurance companies and pension funds.
Cyprus has a citizenship scheme offering foreign investors citizenship through purchasing €2 million euros worth of Government bonds locked for five years without interest. Other conditions include owning a home for €500K and owning a residence permit.
The main terms of Bond issuance are the following:
| 1 | Cyprus government 5 month bond (1st Series) | |
| Issuer | Republic of Cyprus | |
| Value/Settlement Date | 13th July 2018 | |
| Maturity Date | 17th December 2018 | |
| Currency | Euro | |
| Nominal Value | €500.000.000,00 | |
| Proceeds | €500.000.000,00 | |
| Price (per €100) | €1000 | |
| Annual Coupon | 1,90% | |
| 2 | Cyprus government 17 month bond (1st Series) | |
| Issuer | Republic of Cyprus | |
| Value/Settlement Date | 13th July 2018 | |
| Maturity Date | 16th December 2019 | |
| Currency | Euro | |
| Nominal Value | €750.000.000,00 | |
| Proceeds | €750.000.000,00 | |
| Price (per €100) | €1000 | |
| Annual Coupon | 2,50% | |
| 3 | Cyprus government 29 month bond (1st Series) | |
| Issuer | Republic of Cyprus | |
| Value/Settlement Date | 13th July 2018 | |
| Maturity Date | 15th December 2020 | |
| Currency | Euro | |
| Nominal Value | €750.000.000,00 | |
| Proceeds | €750.000.000,00 | |
| Price (per €100) | €1000 | |
| Annual Coupon | 2,75% | |
| 4 | Cyprus government 41 month bond (1st Series) | |
| Issuer | Republic of Cyprus | |
| Value/Settlement Date | 13th July 2018 | |
| Maturity Date | 15th December 2021 | |
| Currency | Euro | |
| Nominal Value | €580.000.000,00 | |
| Proceeds | €580.000.000,00 | |
| Price (per €100) | €1000 | |
| Annual Coupon | 3,25% | |
| 5 | Cyprus government 53 month bond (1st Series) | |
| Issuer | Republic of Cyprus | |
| Value/Settlement Date | 13th July 2018 | |
| Maturity Date | 15th December 2022 | |
| Currency | Euro | |
| Nominal Value | €610.000.000,00 | |
| Proceeds | €610.000.000,00 | |
| Price (per €100) | €1000 | |
| Annual Coupon | 3,50% | |
Source: Ministry of Finance Cyprus
