[19 June 2014, CITY A.M.] By Michael Bird: The Cypriot government yesterday issued its first public bond since a financial crisis last year, following sharp improvements in the climate for sovereign debt from the Eurozone’s troubled periphery.

The country’s finance ministry raised €750m (£600.9m) in a bond issue yesterday, having initially aimed to raise €500m. The five-year bonds will carry a 4.85 per cent yield. The interest on the debt will still be some of the highest of any euro-area country, but yields have dropped dramatically for many countries hit by sovereign crises.

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