Cyprus Stock Exchange Introduces €25 Million Government Bonds Series 2024

The Cyprus Stock Exchange (CSE) has unveiled a significant development in the financial realm with the introduction of 25,000 new government bonds issued by the Republic of Cyprus. These bonds, designated as Government Bonds of the 13 Weeks 1st Issue, Series 2024, have been formally accepted by the CSE in accordance with Article 58(1) of the Cyprus Securities and Stock Exchange Law.

Each of these bonds holds a nominal value of €1000, contributing to a total issuance amount of €25 million. Originating from an auction conducted on March 15, 2024, they are set to remain valid from March 22, 2024, through June 21, 2024.

Additionally, the Cyprus Stock Exchange has approved the simultaneous introduction of these bonds to the Central Depository and Central Registry as per the stipulated provisions of the Cyprus Securities and Stock Exchange Laws. As of March 22, 2024, these bonds are officially issued.

For trading purposes, the CSE has designated the trading code GD13A24/TB13A24 for these newly introduced bonds within the Bond Market, each distinguished by its unique ISIN code CY0240880811.

It's important to note that these government bonds do not accrue interest, distinguishing them from conventional interest-bearing securities. Trading activities for these bonds are scheduled to commence on Friday, March 22, 2024.

This announcement marks a significant stride in the financial landscape of Cyprus, underscoring the government's commitment to managing its debt obligations while concurrently providing investment opportunities for market participants.

By fLEXI tEAM