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Cyprus's €1 Billion Bond Oversubscribed with €16.5 Billion in Bids – Historic Event

Published January 22, 2026, 10:53

The Republic of Cyprus achieved a historic success with the issuance of a €1 billion 10-year bond, receiving bids exceeding €16.5 billion. Finance Minister Makis Keravnos described the event as historic, emphasizing that the secured interest rate of 3.25% is the lowest in recent bond issuances by other countries, such as Greece and Portugal. The high demand for the Cypriot bond demonstrates recognition from foreign investors of the sound economic policies pursued by the government, which create conditions of stability and security for investments. This success is due to the government's efforts to maintain economic stability and promote growth. Mr. Keravnos clarified that the bond issuance does not constitute additional debt but replaces a maturing bond. He recalled that Cyprus has already managed to reduce public debt to around 55% of GDP, exceeding the initial target of 60% for the end of the year. The reduction in debt allows the government to increase spending on development projects and social policy, transferring the positive results of economic policy to society. The bond issuance is a significant step towards economic prosperity and social progress.