Bank Of Cyprus Secures €217 Million In Tendered Capital Notes, Reinforcing Its Strategic Refinancing

by THEFUTURE.TEAM

September 19, 2025

Announcement Recap

The Bank of Cyprus has confirmed the receipt of valid tenders totaling approximately €217 million for its €300 million Fixed Rate Reset Tier 2 Capital Notes due October 2031. This decisive cash offer was extended to existing note holders at a premium of 102.3% of the principal, with accrued interest payable up to, but excluding, the settlement date of September 18, 2025.

Transaction Highlights

Representing roughly 72% of the outstanding securities, all valid tenders were accepted, leaving approximately €83 million in notes still outstanding. The restructuring is expected to incur a cost of about €5 million in the third quarter of 2025, reflecting the omission of future coupon obligations. Concurrently, the bank anticipates a gain of approximately €1.5 million from the unwinding of the associated hedging instruments.

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Strategic Capital Optimization

This successful tender underscores the group’s proactive capital management strategy. Looking ahead, the Bank of Cyprus plans to issue new Fixed Rate Reset Tier 2 Capital Notes on September 18, 2025. The new issue, set at a significantly lower coupon rate, will not only refinance the remaining outstanding notes but is also projected to add around 300 basis points to the Total Capital Ratio. Such strategic moves reiterate the bank’s commitment to maintaining an optimized capital structure.

Market Impact and Execution

Industry heavyweights BofA Securities Europe SA and Goldman Sachs Bank Europe SE served as dealer managers for this offer, further affirming the transaction’s market expertise and execution strength. The initiative highlights a broader trend in the financial sector, where institutions are leveraging refinancing and capital restructuring to enhance financial resilience in a competitive market environment.

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Bank Of Cyprus Launches Cybersecurity Programme For Students In Limassol

by THEFUTURE.TEAM

March 31, 2026

Bank of Cyprus launched a cybersecurity initiative in Limassol as part of its “The Young Ask and Provide Solutions” programme, involving students in simulated cyberattack scenarios. The programme focuses on practical training in cyber defense and awareness of risks linked to digital infrastructure.

Innovative Collaboration And Real-World Challenges

In partnership with the Education Ministry and non-profit organization TechIsland, the programme provided a robust platform for young minds to confront realistic cyberattack simulations. Held at the modern Limassol regional offices of the Bank of Cyprus, the interactive space enabled 60 secondary school students from across the region to collaboratively tackle the complex threats facing national digital infrastructure.

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Practical Exercises And Strategic Insights

Participants took part in workshops built around cyberattack scenarios. Tasks included identifying prevention strategies, planning response measures, and proposing public awareness approaches. The exercises focused on coordination and decision-making during cyber incidents.

Empowering Tomorrow’s Leaders

According to Elli Ioannidou, the programme is designed to combine theoretical knowledge with practical experience. She said the initiative aims to help students understand real-world challenges and develop problem-solving skills. Additional input was provided by Marios Stavrou, who noted that managing cyber incidents requires coordination across multiple teams and functions.

Building A Resilient Cyber Ecosystem

Experts, including Mathaios Panteli and Tanya Romanyukha highlighted the importance of early digital skills and cybersecurity awareness. Their comments focused on preparing the future workforce skills needed for managing digital risks. The programme forms part of broader efforts to strengthen cybersecurity awareness and education in Cyprus.

The Bank of Cyprus remains committed to investing in forward-thinking initiatives that inspire youth and enhance community awareness. Through these targeted efforts, the bank is not only addressing immediate security challenges but also contributing to a future where advanced technology and robust cyber defense mechanisms coexist seamlessly.

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