July 7, 2020 / 3:41 PM / a month ago

Cyprus raises 1 bln euros from re-opening of 2024, 2040 bonds-lead manager

AMSTERDAM, July 7 (Reuters) - Cyprus raised 1.0 billion euros ($1.13 billion) from a re-opening of its existing 2024 and 2040 bonds via a syndicate of banks, according to a lead manager memo seen by Reuters on Tuesday.

The island country added 500 million euros to its Dec 2024 and Jan 2040 bonds, the lead manager said, bringing the total outstanding amounts to 1 billion euros and 1.25 billion euros respectively.

The 2024 add-on priced for a yield of 0.349% and the 2040 add-on for a yield of 1.493%, the lead manager said.

The shorter bond received demand of 2 billion euros and the longer 3 billion euros, according to an earlier update.

Citigroup, Deutsche Bank, Goldman Sachs, HSBC managed the sale. ($1 = 0.8856 euros) (Reporting by Yoruk Bahceli, editing by Kirstin Ridley)

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