LONDON, Jan 12 (IFR) - Bank of Cyprus has opened order books for a 200m minimum subordinated bond according to a lead.
Bank of America Merrill Lynch, Credit Suisse, Deutsche Bank and HSBC are marketing the 10-year non-call five-year Tier 2 bond at 9.5% area.
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)