New Issue: Cyprus prices €1 billion 4 5/8% 10-year notes to yield mid-swaps plus 125 bps

By Paul A. Harris

St. Louis, Jan. 28 - The Republic of Cyprus (Aa3/A+/AA-) priced a €1 billion issue of 4 5/8% 10-year notes at a 125 basis points spread to mid-swaps, a market source told Prospect News on Thursday.

The spread came on top of price talk.

Deutsche Bank, SG Corporate & Investment Banking and UBS Investment Bank led the sale of notes, which were priced off of the euro medium-term notes program.

Issuer:	Republic of Cyprus
Amount:	€1 billion
Term:	10 years
Securities:	Fixed-rate bonds
Lead managers:	Deutsche Bank, SG Corporate & Investment Banking, UBS Investment Bank
Coupon:	4 5/8%
Spread:	125 bps over mid-swaps
Issuer ratings:	Moody's: Aa3
	Standard & Poor's: A+
	Fitch: AA-
Program:	Euro medium-term notes program
Price talk:	Mid-swaps plus 125 bps area

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