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Government buys back bonds worth ,e1/4214m, PDMO says.

The state bought back outstanding government bonds maturing in 2020 and 2021 with a face value of e1/4214m, the public debt management office said.

The government spent a total of e1/4236.3m for the bond buy-back on Friday, announced on August 30, the PDMO, a division of the finance ministry, said in a statement on its website. The bonds of four separate issuances with an interest rate ranging from 4.75 per cent to 6.1 per cent, were listed at the Cyprus Stock Exchange.

A total of 23 investors, which also received accrued interest participated in the transaction, the PDMO said.

The decision to buy back the above securities, announced a month after the government issued a e1/41bn 7-year government bond in July, is part of its plan to smooth out future debt maturities, which alone in 2019 and 2020 are estimated to amount to almost e1/44bn.

The post Government buys back bonds worth e1/4214m, PDMO says appeared first on Cyprus Mail .

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Publication:Cyprus Mail (Cyprus)
Date:Sep 12, 2016
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