Cyprus taps markets for 1st time after bailout

Published April 30, 2014 1:26pm ET



NICOSIA, Cyprus (AP) — Cyprus has raised 100 million euros ($137 million) through its first bond issue since international lenders rescued the country from near-bankruptcy a little over a year ago.

The six-year bonds were issued through a private placement at an interest rate of 6.5 percent and will be listed on the London Stock Exchange. The money will be used to manage Cyprus’ debt.

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