Bank of Cyprus opco switch cleans up T2

Cyprus_AdobeStock_575x375_07July20
By Frank Jackman
13 Apr 2021

Bank of Cyprus has picked banks to arrange the refinancing of some of its subordinated operating company debt with a new tier two, which it will issue from the holding company level.

The trade has been telegraphed well in advance, with the firm noting its plans in its last results announcement, and since then investors have been waiting for it, said a banker away from the deal.

Bank of Cyprus announced on Tuesday that it plans to sell 10.5 year ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial