Bank of Cyprus Public Company Ltd ("the Bank") has decided to proceed with the issue of Senior Debt of ?300 mn, in the form of a Floating Rate Note, with the option to increase the size of the issue, should market conditions allow. The Note will be of a three-year term and will be issued under the Bank's EMTN Programme. The Joint Lead Μanagers to the issue are Citigroup, Goldman Sachs International, Merrill Lynch International and Alpha Bank (no books). The proceeds of the issue will increase the Bank of Cyprus Group's liquidity in foreign currency, contributing to the further expansion of its operations.
Founded in 1899, the Bank of Cyprus Group is the leading Cypriot banking and financial services group. In 1991, the Group established its first branch in Greece where it has been expanding rapidly since 1999. It has an established banking presence in the United Kingdom and in 2001 it expanded to Australia through a wholly owned subsidiary bank. In addition to retail and commercial banking, the Group's activities include finance, factoring, investment banking, brokerage, fund management, life and general insurance. The Group currently operates through a total of 276 branches, of which 147 operate in Cyprus, 112 in Greece, six in the United Kingdom, ten in Australia and one in the Channel Islands. Bank of Cyprus also has representation in the United States of America, Canada, South Africa, Russia and Romania. The Bank of Cyprus Group employs 6.062 staff worldwide. At 31 March 2006, the Group's Total Assets reached C£12,61bn (?21,89bn) and the Group's Shareholders' Funds were C£800mn (?1,39bn). The Bank of Cyprus shares are listed on the Cyprus and Athens Stock Exchanges. Additional information can be found at the Group's website www.bankofcyprus.com