Bank Of Cyprus Raises €300 Million In Oversubscribed Bond Issuance

Strong Market Reception

Bank of Cyprus completed a €300 million senior preferred notes issuance under its EMTN Programme, attracting more than €1.7 billion in investor demand and highlighting continued confidence in the bank’s financial position and funding strategy.

Issuance Details And Pricing

According to information published on the Cyprus Stock Exchange, the notes were priced at 99.822% and carry a fixed annual coupon of 3.875%, payable until the optional redemption date of May 20, 2030. Strong institutional participation supported a final yield of 3.924%, reflecting favourable market conditions for European banking debt issuances.

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Maturity And Redemption Provisions

Final maturity for the notes is scheduled for May 20, 2031, although the bank retains the option to redeem the securities one year earlier, subject to regulatory approvals and predefined conditions. Should the notes remain outstanding after May 2030, the coupon will switch to a floating rate linked to three-month Euribor plus 100 basis points, payable quarterly until maturity.

Settlement And Trading Information

Settlement is expected on May 20, 2026, with the securities set to begin trading on the Luxembourg Stock Exchange Euro MTF market. More than 120 institutional investors participated in the transaction, while the order book reached roughly six times the size of the offering, reinforcing strong investor appetite for the issuance.

Strategic Financial Impact

Proceeds from the transaction will contribute toward meeting minimum own funds and eligible liabilities requirements while strengthening the bank’s regulatory capital position. According to the Bank of Cyprus, the issuance is expected to improve its MREL ratio by approximately 284 basis points relative to risk-weighted assets, maintaining a comfortable buffer above regulatory thresholds.

Collaborative Execution

Joint lead managers included BNP Paribas, BofA Securities Europe SA, Deutsche Bank and Goldman Sachs. Legal advice for the transaction was provided by Sidley Austin LLP, together with local counsel Chryssafinis and Polyviou LLC.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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