12.07.2022
Hellenic Bank announced on Monday that it has successfully launched and valued a €100 million senior preferred note issue under its €1.5 billion medium-term bond (EMTN) program.
According to the bank, the bonds are valued at par with a fixed coupon of 9% per annum , paid annually at maturity, and the fixed coupon will reset on July 15, 2024.
In addition, the Notes have a maturity date of 15 July 2025 and the Notes are callable at par value on 15 July 2024 (3NC2) subject to certain statutory conditions set forth in their terms.
The bank said settlement is expected to take place on July 15, 2022. The bonds will be admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange and listed on the official list of the Luxembourg Stock Exchange.
“The transaction represents the Bank’s first issuance of bonds that are expected to meet the Bank’s minimum equity and eligible liabilities (MREL) requirements and are in line with the Bank’s financing strategy with respect to MREL requirements,” the bank said in a statement.
According to a report from the Statistical Office of Cyprus (Cystat), the total number of registered motor vehicles decreased by 5%, dropping to 17,697 between January and June 2022 from 18,631 a year earlier.
The number of passenger cars with sedans fell to 14,101 from 14,267 in the same period in 2021, a 1.2% drop.
Of these vehicles, 6,132 (43.5%) were new and 7,969 (56.5%) were used.
Rental vehicle registrations increased by 111.1% to 2,457, reflecting strong demand for these vehicles.
In June 2022, the total number of registered vehicles was 3,344, up 2% from 3,279 in June 2021.
Sedan class passenger cars increased by 4.3%, rising to 2,588 from 2,482 in June last year.
The Cyprus Stock Exchange (CSE) ended Monday, July 11, with losses.
The overall Cypriot stock market index stood at 66.84 points at 12:26 pm during the day, reflecting a 1.27% drop from the previous trading day.
The FTSE/CySE 20 Index stood at 39.99, down 1.28%.
The total transaction value was 13,356 euros.
As for sub-indices, the main, alternative and investment indexes of companies decreased by 1.56%, 0.71% and 5.77% respectively. The hotel index remained stable.
Bank of Cyprus (-1.8%), Demetra (-6.19%), Hellenic Bank (-0.24%), Cyprus Cement Company (-2.36%), Louis PLC (+5 .41%) and Pandora (-9.68%).
