UK-based investors buy largest chunk of Cypriot bond

By Stelios Orphanides

UK-based investors bought almost two thirds of Cyprus’s €1bn 7-year bond issued on Tuesday, the government’s second test after losing access to markets in May 2011, the finance ministry said.

Investors from the UK bought 62 per cent of the issue while investors from other European countries bought 30.5 per cent of the bond, which will be listed in the London Stock exchange and carries an annual 3.875 per cent interest, the finance ministry said in an emailed statement today. Investors from the rest of the world bought 6.5 per cent of the issue while Cypriot investors bought 1 per cent.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.