LONDON, Jan 12 (IFR) - Bank of Cyprus will price a 250m Tier 2 bond at 9.25%, according to a lead manager.
Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank and HSBC started marketing the 200m-minimum 10-year non-call subordinated bond at 9.5% area on Thursday morning.
The transaction is expected to be rated Caa3 by Moody's. Bank of Cyprus is rated Caa2 by Moody's and B- by Fitch.
It will be priced later today. (Reporting by Alice Gledhill; editing by Alex Chambers)