30/04/2015 13:32
The Republic of Cyprus has achieved a broad distribution with the recent issue of government bonds dominated by international investors, across Europe, the UK, and other international investors based on data from the Ministry of Finance.
According to the Ministry, the quality of the orderbook by investor type was very high with very strong granularity.
Real-money demand dominated the orderbook, at over 60%. The largest investor part was fund managers at 45%, well supported by hedge funds and private bank interest.
The data show that 39.5% was distributed to hedge funds while banks and private banks got 13.5%, and others got 2% of the issue.
As far as distribution by region is concerned, 62% was distributed to the UK, 30% to Europe excluding UK, 6,5% to the rest of the world and 1% to Cyprus.
The Debt management Office of the Ministry of Finance notes that with this transaction, the Republic of Cyprus demonstrates market access at an attractive coupon level, reflecting the recent performance of outstanding debt instruments and the country’s outlook.
According to the Ministry, the quality of the orderbook by investor type was very high with very strong granularity.
Real-money demand dominated the orderbook, at over 60%. The largest investor part was fund managers at 45%, well supported by hedge funds and private bank interest.
The data show that 39.5% was distributed to hedge funds while banks and private banks got 13.5%, and others got 2% of the issue.
As far as distribution by region is concerned, 62% was distributed to the UK, 30% to Europe excluding UK, 6,5% to the rest of the world and 1% to Cyprus.
The Debt management Office of the Ministry of Finance notes that with this transaction, the Republic of Cyprus demonstrates market access at an attractive coupon level, reflecting the recent performance of outstanding debt instruments and the country’s outlook.
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