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ESM disburses €1.5 billion to Cyprus

27/09/2013
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Press releases

ESM

Luxembourg – The European Stability Mechanism (ESM) disbursed today €1.5 billion to Cyprus for the recapitalisation of the cooperative banking sector. The amount was disbursed in a cashless operation involving one series of 18-month ESM floating rate notes (FRN). The loan will be repaid in two equal instalments of €750 million, due in 2029 and 2030, respectively.

Cyprus has now received a total of €4.5 billion in ESM financial assistance out of a total committed amount of approximately €9 billion.

There is an online information package on the Cyprus programme at: http://www.esm.europa.eu/assistance/cyprus/index.htm 

Wolfgang Proissl

Wolfgang Proissl
Chief Spokesperson
 

+352 260 962 230

Anabela Reis

Anabela Reis
Senior Spokesperson / Financial Press Spokesperson
 

+352 260 962 551

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