Chicago, July 5 – The Republic of Latvia (A3/A+/A-) priced €750 million of 3 7/8% 10-year bonds on Wednesday, a market source reported.
The bonds priced at 99.715 to yield 3.91%, or at mid-swaps plus 85 basis points. Alternatively, the bonds priced at Bunds plus 145.9 bps.
During pricing, guidance came down to the mid-swaps plus 90 bps area, give or take 5 bps. Guidance started in the 100 bps area.
The lead managers were J.P. Morgan SE (billing and delivery), BNP Paribas and Goldman Sachs Bank Europe SE.
Orders were in excess of €3 billion.
The bonds will be listed in Luxembourg.
| Issuer: | Latvia
|
| Amount: | €750 million
|
| Issue: | Bonds
|
| Maturity: | July 12, 2033
|
| Bookrunners: | J.P. Morgan SE (billing and delivery), BNP Paribas and Goldman Sachs Bank Europe SE
|
| Coupon: | 3 7/8%
|
| Price: | 99.715
|
| Yield: | 3.91%
|
| Spread: | Mid-swaps plus 85 bps, or Bunds plus 145.9 bps
|
| Trade date: | July 5
|
| Settlement date: | July 12
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 100 bps area initially, then guided to mid-swaps pus 90 bps area
|
| ISIN: | XS2648672660
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
