The Ministry of Finance proceeds today to the auction of three – year Government Registered Development Stocks (GRDS).
The issuance of the GRDS is January 4, 2012 and maturity date January 2015.
The GRDS’s nominal rate will reach 6%. The Cypriot Finance Ministry aims to raise 50 million euro from the internal market to pay a debt, maturing on January 4th, 2012.
Moreover, the Ministry of Finance will proceed Thursday to an auction of Treasury Bills. The issuance date will be January 4, 2012 and maturing date February 3, 2012. The Ministry aims to raise 250 million euro from the internal market.
In statements on December 8th to the Cyprus News Agency, Head of Public Debt Management Office at the Ministry of Finance Phaedon Kalozois, said that one of the main reasons for the debt issuance this year is the political consensus reached in relation to fiscal measures, which “sends positive messages to the market”.CNA