Cyprus bond yields hit one-month high ahead of landmark 30-year debt sale

Cypriot borrowing costs hit a one-month high ahead of a debt sale that will see the country attempt to take advantage of favourable market conditions with its first-ever syndicated 30-year bond sale.

Cyprus on Tuesday appointed banks for a syndicated sale of debt maturing in December 2024 and May 2049, with the deal largely expected to be launched later on Wednesday.

The country’s 10-year bond yields hit a one-month high of 1.61 pct in early trade on Wednesday, while the island nation’s longest-dated bond so far, a 15-year note, touched a three-week high of 2.277 percent. [Reuters]