New Issue: Latvia sells $500 million 5¼% notes due 2021 to yield mid-swaps plus 237.5 bps

By Christine Van Dusen

Atlanta, June 9 - The Republic of Latvia priced $500 million 5¼% notes due June 16, 2021 (Baa3/BB+/BBB-) at 98.164 to yield 5.491%, or mid-swaps plus 237.5 basis points, a market source said.

The notes priced below talk, which was set at the mid-swaps plus 250 bps area.

Citigroup and Credit Suisse were the bookrunners for the Rule 144A and Regulation S notes.

Issuer:	Republic of Latvia
Amount:	$500 million
Maturity:	June 16, 2021
Description:	Notes
Bookrunners:	Citigroup, Credit Suisse
Coupon:	5¼%
Price:	98.164
Yield:	5.491%
Spread:	Mid-swaps plus 237.5 bps
Trade date:	June 9
Settlement date:	June 16
Ratings:	Moody's: Baa3
	Standard & Poor's: BB+
	Fitch: BBB-
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 250 bps area

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