Bank of Cyprus laps up its old AT1s
![Laiki Bank, Nicosia, Cyprus. 24th March, 2013
A branch of the Bank of Cyprus on the outskirts of Nicosia in Cyprus, as the nation awaits the outcome of the negotiations of an EU bailout.](https://assets.euromoneydigital.com/dims4/default/da34fca/2147483647/strip/true/crop/5616x3744+0+0/resize/840x560!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F2d%2F86%2F9d14437f45c49bc3b83b08d448ae%2Fd54f9c.jpg)
◆ Issuer committed to cancelling as much old capital as possible ◆ Buying back above par ◆ All buying-back thanks to new AT1 providing capital optimisation
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