Cyprus sold on Thursday 714.57 million euro of 2-year Government Registered Development Stocks (GRDS) in the domestic market.

The auction was organised by the Finance Ministry`s Public Debt Management Office for the sale of 2-year GRDs worth of 700 million euro offering a coupon of 4.5%.

The Ministry accepted all bids submitted for the amount of 714.568.000 euro. The competitive bids reached 667.588.000 euro, whereas the non-competitive reached 47.010.000 euro.

The average yield reached 5.00%.