News Headline Summary

Cypriot finance minister is to send a letter to Moscow to formally ask for changes in the repayment of the EUR 2.5bln loan extended to Cyprus in 2011, according to state radio

- Cyprus will ask for an extension of maturity, and payment via instalments instead of full repayment in 2016 as previously agreed.

Reaction details (10:51)

- The above comments were pre-empted by the Troika release yesterday, and as such - no reaction across the European asset classes.

Analysis details (10:50)

- This follows a Troika document yesterday revealing that Russia had agreed to extend their loan to Cyprus by 2 years to 2018 & cut interest.

07 May 2013 - 10:48 - Fixed Income Economic Commentary - Source: CyBC

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