May 25 (Reuters) - Cyprus-based lender Marfin Popular Bank CPBC.CY (MRBr.AT) said on Wednesday it had issued 1 billion euros ($1.4 billion) in mortgage-backed covered bonds.
The bonds carry an annual interest rate of three-month euribor plus 2 percent and mature in two years, with the possibility of an extension for a further one year. They were rated Baa1 by Moody's, the lender said in a statement.
The issue is part of a programme by the bank to issue up to 5 billion euros in covered bonds, it said. The covered bonds have been admitted for listing and trading on the Irish Stock Exchange.
Marfin said it was the first issue of covered bonds in Cyprus after an amendment of legislation by parliament. (Writing by Michele Kambas; Editing by David Holmes) ($1=.7095 Euro)
source: Cyprus Marfin issues 1 bln euros in covered bonds | Reuters
Toggle signature
The bonds carry an annual interest rate of three-month euribor plus 2 percent and mature in two years, with the possibility of an extension for a further one year. They were rated Baa1 by Moody's, the lender said in a statement.
The issue is part of a programme by the bank to issue up to 5 billion euros in covered bonds, it said. The covered bonds have been admitted for listing and trading on the Irish Stock Exchange.
Marfin said it was the first issue of covered bonds in Cyprus after an amendment of legislation by parliament. (Writing by Michele Kambas; Editing by David Holmes) ($1=.7095 Euro)
source: Cyprus Marfin issues 1 bln euros in covered bonds | Reuters
Toggle signature
Latest Video Interviews, Offshore Company Resources, Payment Processing Tips & Tricks, Articles and Anonymity Hints only a click away!
Support the Freedom of Speech of our Community
Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
Support the Freedom of Speech of our Community
Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
