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Bailed-out Cyprus returns to bond market

The Cypriot and European Union flags in Nicosia, on April 4, 2013Cyprus returned to international debt markets Wednesday, just a little over a year after being forced to accept a 10-billion euro ($13.6 billion) bailout, with a five-year bond issue. Finance Minister Harris Georgiades said on Twitter: “It’s done. In contrast to this public issue, Cyprus placed 100 million euros privately in April, with the six-year paper carrying a coupon of 6.5 percent. Ruling Disy party spokesman Prodromos Prodromou described the sale as “a critical moment” in restoring confidence in the Cypriot economy.

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