By Marisa Wong
Los Angeles, June 16 – Bank of Cyprus Holdings plc priced €300 million of six-year senior preferred notes at par with a fixed coupon of 2½%, according to a press release.
The notes are being issued under the bank’s euro medium-term note program.
The interest rate is resettable on June 24, 2026, at which point the notes are also callable.
BofA Securities, Citigroup, HSBC and Nomura acted as joint lead managers.
The issuance was met with strong demand, attracting interest from about 65 institutional investors, with the final order book more than two times subscribed and final pricing 25 basis points tighter than initial guidance, the bank noted.
Settlement is expected to occur on June 24.
The notes will be listed on the Luxembourg Stock Exchange’s Euro MTF market.
The financial services company is based in Strovolos, Cyprus.
| Issuer: | Bank of Cyprus Holdings plc
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| Issue: | Senior preferred notes
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| Amount: | €300 million
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| Maturity: | June 24, 2027
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| Lead managers: | BofA Securities, Citigroup, HSBC and Nomura
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| Co-managers: | Stifel Nicolaus Europe and Bank of Cyprus
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| Coupon: | 2½%, resettable on June 24, 2026
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| Price: | Par
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| Call option: | On June 24, 2026
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| Settlement date: | June 24
|
| Listing: | Luxembourg Stock Exchange’s Euro MTF market
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