Medium term note

İşbank, the largest private lender by asset, has become the first bank to issue Turkish Lira-denominated green bonds in Türkiye.

In a filing with Borsa Istanbul, the bank said it completed the issuance of the 500 million lira nominal valued green bonds with 728 days of maturity.

Bonds with floating rates and quarterly coupon payments were sold to qualified investors.

The financing needs of Cyprus for next year amount to 1.3 billion euros, largely to be covered by the issuance of a €1 billion European medium-term note (EMTN), the Cypriot Finance Ministry's Public Debt Management Office (PDMO) said last week.

The Medium Term Notes (MTN) Programme provides a maximum debt of up to EUR 1.5 bn that could be issued in the international capital markets (with the possibility to be upsized in the future) without specifying a pre-determined time period for these issuances (multi-year).

Cyprus is expected to issue its first ever 15-year government bond at a rate between 2.90 percent - 3.00 percent.

The Finance Ministry expects the Euro Medium Term Note (EMTN) to attract 1 billion euros.

Although the coupon rate is relatively high compared to other EU countries; the move shows a significant vote of confidence in the long term trajectory of the Cypriot economy