Cyprus flirts with bailout buster as periphery rockets

Matteo Renzi
By Craig McGlashan
29 May 2014

Eurozone periphery sovereigns proved that a sell-off of their debt two weeks ago was merely a blip in their hot streak since the turn of the year, as Italy – fresh with a strong mandate for its reformist government, led by Matteo Renzi, in last week’s European Parliament elections – crunched down its funding costs to record lows at auction, while Cyprus sounded out banks for a syndication in what would be the quickest turnaround of any of the bailed-out sovereigns. Craig McGlashan reports.

Cyprus has sent out requests for proposals for what would be its first visit to the public bond markets since a €1bn November 2015 bond in October 2010. If a deal follows, it would mean Cyprus has gone from receiving a bailout to printing a benchmark in little ...

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