Cyprus is getting ready to borrow money from international markets again. The country will offer a new, long-term government bond. This bond will be in euros and will be due in January 2036. The government wants to get a lot of money for many years. This also shows that Cyprus is now seen as a more reliable borrower globally. The sale will start soon if market conditions are good.
Several big international banks will help manage this important sale. Barclays, J.P. Morgan, Morgan Stanley, and Société Générale are the main banks. Bank of Cyprus will also help. The new bond will be part of Cyprus's existing plan for issuing medium-term notes. This plan is used for different types of investors. The bonds will be registered, which is common today.
This bond sale is more than just getting money. It shows that Cyprus's economy is getting better. The country feels more confident about borrowing internationally. Cyprus's credit rating has improved recently. Moody's rates Cyprus at A3. S&P and Fitch rate it A-. DBRS rates it A. These ratings suggest a strong economy. This should attract investors looking for safe investments.
The government wants to borrow for ten years. This will make the country's debt last longer. It will also make financial planning easier. By selling this bond, Cyprus wants to find more ways to get money. It also hopes to get better interest rates. A successful sale will show that investors are interested in Cyprus's debt. This will help the country manage its money in the future. The choice of well-known banks shows the plan is well-organized.