Republic of Cyprus to issue new government bills next week

There will be a new issue of Cypriot government bills on Monday, August 26, with the bills having a three-month duration, set to mature on November 29, 2024.

Sophic, an online platform that allows clients to invest in government bills, announced this week that it intends to secure a portion of this new issue, continuing its practice from previous issues.

“These bills provide attractive returns and serve as a safe haven for non-professional investors and businesses looking to manage their liquidity effectively,” the company said.

It is worth noting that in previous issues, Sophic and Athlos Capital, the independent investment company behind Sophic, acquired a significant portion of the government bills issued by the Republic.

This, the company said, “provided their clients with the opportunity to invest in products offering particularly appealing returns, notably higher than those offered by bank deposit rates”.

It should be noted that the last two issues of quarterly government bills yielded returns of 3.67 per cent and 3.74 per cent respectively.

Aside from government bills issued by the Republic of Cyprus, Sophic has previously offered access to high-credit-rated government bills issued by the European Union, France, and Germany.