By Reshmi Basu
New York, March 25 - The Republic of Latvia priced €400 million of 10-year 4¼% notes (A2/BBB+) at 99.696 to yield 4.29% Thursday, according to a market source.
The yield equates to a spread of 43.7 basis points over Bunds or 28 basis points over mid-swaps. Talk had put the spread at 28 to 31 basis points over mid-swaps.
Citigroup is the bookrunner on the sovereign issue.
The issue will be listed on the Luxembourg Stock Exchange.
| Issuer: | Republic of Latvia
|
| Issue: | Notes
|
| Amount: | €400 million
|
| Maturity: | April 2, 2014
|
| Coupon: | 4¼%
|
| Price: | 99.696
|
| Yield: | 4.29%
|
| Spread: | 43.7 bps over Bunds, 28 bps over mid-swaps
|
| Bookrunner: | Citigroup
|
| Pricing date: | March 25
|
| Settlement: | April 2
|
| Listing: | Luxembourg
|
| Ratings: | Moody's: A2
|
| S&P: BBB+
|
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