Cypriots And Foreigners Will Be Able To Purchase New Government Bonds

Cypriots And Foreigners Will Be Able To Purchase New Government Bonds

Cypriots and foreigners will be able to purchase the new six-year government bonds, which the country began issuing, Bulgarian National Radio reported. The first ones will be released in early June. The Government of Cyprus decided to launch long-term , six - year government bonds for individuals, as the first attempt to test the internal market and to step back on the international financial markets. According to the country's Finance Ministry, these bonds are a secure investment with good liquidity and low risk. They will be listed on the stock exchange market of the country and transferred to another holder will be subject to certain restrictions. Interest will reach 5.75% at the end of the 6 -year maturity. These bonds are subject to a particularly favorable tax regime, the ministry highlighted. The minimum size of any request for the bond market will be 1000 euros. Emissions will be issued on the first working day of each month. They will be on the behalf of the Government of Cyprus and will be available to the public. The announced program is the first step for Cyprus, trying to return to the international financial markets, which the government wants to  take place before the expiry of the agreement with the troika on March 2016. Cyprus was banned from international financial markets in May 2011 because of the debt crisis. The latest troika bailout program of international lenders have unprecedented cleaning of unsecured bank deposits and some restrictive measures for financial stabilization and capital control.

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