Moody's will endeavour to assign definitive ratings to actual issuances from the EMTN
Ananth Venkat, the CFO of NBO, said: "NBO's first bond issuance under the new EMTN
programme issue was more than three times oversubscribed.
This is the first time that Cyprus is tapping into the EMTN
market ever since a e1/410 bln bailout from the Troika of international lenders a year ago, that saw the island undergoing harsh austerity measures and a bail-in of unsecured deposits to rescue biggest lender bank of Cyprus.
Shareholders gave the nod to the board to approve the issue of bonds (including subordinated bonds) and other debt instruments under a EMTN
programme providing for such issues either by the company directly, or by CBQ Finance Limited (a wholly owned subsidiary of the company) and guaranteed by the company, provided that the amount of such issues complies with the Instructions of Qatar Central Bank.
The issue is the inaugural draw down under Banque Saudi Fransi's Dhs 2 billion EMTN
Program and was coordinated by Credit Agricole CIB with Citi and Deutsche Bank acting as Joint Lead Managers.
programme is organised by Barclays Capital, and dealers on the
Notes For Which Acceptance Notices Have Been Received
The securities to be issued under the EMTN
programme have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act"), and may not be offered or sold, directly or indirectly, in the United States of America or for the account or benefit of U.
Bonds are listed in London with coupon sat a fixed interest rate of 3.
The EGM has approved increasing the size of the Bank's existing EMTN
Programme from $ 5 billion to $ 7.
Phaedon Kalozois said the increase did not automatically imply an EMTN
issue was imminent, but said such an issue was an option for the Republic.
25-year Eurobond under its EMTN
(Euro Medium Term Note) programme.