Cyprus begins marketing for benchmark loan

The Republic of Cyprus has started marketing its first post-bailout public debt sale with a yield in the 5 percent area, according to a lead.

The June 2019 transaction is expected to take place on Wednesday.

Deutsche Bank, Goldman Sachs, HSBC, UBS and VTB Capital are arranging the sale.

Cyprus is rated Caa3 (positive) by Moody’s, B (positive) by Standard and Poor’s and B- (stable) by Fitch.

[IFR]