Cyprus raises 1 bln euros from its first sustainable bond

Cyprus launched its first sustainable bond on Tuesday as governments took advantage of high demand for such assets following weeks of wild swings in bond markets.

Nicosia raised 1 billion euros from its first sustainable bond, the country’s debt office said, becoming the latest European government to enter the market.

The deal received more than €12 billion of demand, a record for Cyprus, Stelios Leonidou, who manages Cyprus’ debt issuance, told Reuters.

“This is the biggest [investor order] book we’ve had ever, in a year when market conditions for issuing sovereign bonds have not been as good as last year,” he said. [Reuters]