Chicago, Oct. 5 – The Republic of Estonia priced €1 billion of 4% senior notes with a 10-year tenor (AA-) on Wednesday, according to a market source.
The notes priced with a 99.814 discount to yield 4.023%, or a spread of 105 basis points to mid-swaps.
Talk had the deal coming in the 120 bps area to mid-swaps.
The Regulation S deal was led by Citi (billing and delivery), Goldman Sachs Bank Europe and Societe Generale.
Proceeds will be used for general budgetary purposes.
| Issuer: | Republic of Estonia
|
| Amount: | €1 billion
|
| Issue: | Senior notes
|
| Maturity: | Oct. 12, 2032
|
| Bookrunners: | Citi (billing and delivery), Goldman Sachs Bank Europe and Societe Generale
|
| Coupon: | 4%
|
| Price: | 99.814
|
| Yield: | 4.023%
|
| Spread: | Mid-swaps plus 105 bps
|
| Trade date: | Oct. 5
|
| Settlement date: | Oct. 12
|
| Ratings: | S&P: AA-
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 120 bps area
|
| Marketing: | Investor call
|
| ISIN: | XS2532370231
|
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