Brussels, 01/07/2013 (Agence Europe) - On Monday 1 July, the Cypriot government exchanged debt owned by national investors and due to mature between now and 2016 with new coupons with a maturity of between five and ten years.
The deal covers €1 billion of bonds. The yield remains unchanged, only the maturity has changed. It will mean that Cyprus will not have to pay back some €700 million of bonds this year.
Announced last week, this debt exchange is a part of the Memorandum of...