Democratic Rally led the parliamentary elections in Cyprus with 27.1% of the vote

Macro/Political:

• On May 27^th Greece will auction 26 Weeks T-Bills with maturity November 27, 2026. The amount to be auctioned is EUR 400mn.
  Source: PDMA

• PDMA in figures released showed that the Greek stated collected EUR 71.8 mn from the Hercules Asset Protection Scheme during 1Q26. Furthermore, according to the same report, by the end of 1Q26, the value of Greek state guarantees for the Hercules program had fallen to EUR 16.7 bn, from EUR 17.1 bn.
  Source: Bloomberg

Markets:

• Lamda Development announced that its Board of Directors approved the early repayment of the entire common bond loan issued on July 6, 2020, with a principal amount of EUR 320 mn, subject to the successful issuance of a new listed bond loan that will raise the funds necessary to refinance the 2020 bonds.
  Source: Euronext Athens

Macro/Political:

• The parliamentary elections in Cyprus saw Democratic Rally (DISY) emerge as the leading party, winning 17 seats, while AKEL came second with 15 seats, the same number it held in the previous elections five years ago. ELAM doubled its representation from 4 to 8 seats. Democratic Party (DIKO) fell to fourth place but managed to retain 8 of the 9 seats it held before election day. ALMA secured 4 seats, while Direct Democracy, led by social media influencer Fidias Panayiotou, also entered parliament with 4 seats. In terms of vote share, DISY received 27.1%, AKEL 23.9%, ELAM 10.9%, DIKO 10%, ALMA 5.8%, and Direct Democracy 5.4%. Meanwhile, EDEK failed to win any seats for the first time in its 57-year history, securing just 3.2% of the vote. The results prompted party leader Nikos Anastasiou to resign.