New Issue: Latvia prices €1 billion 2 5/8% notes due 2021 at 120 bps spread

By Christine Van Dusen

Atlanta, Jan. 15 - Latvia priced a €1 billion issue of 2 5/8% notes due Jan. 21, 2021 (Baa2/BBB+/BBB+) at 98.808 to yield 2.815%, or mid-swaps plus 120 basis points, a market source said.

Citigroup, JPMorgan and Societe Generale were the bookrunners for the Rule 144A and Regulation S deal.

The notes priced tighter than talk, set at mid-swaps plus 140 bps.

Issuer:	Latvia
Amount:	€1 billion
Maturity:	Jan. 21, 2021
Description:	Notes
Bookrunners:	Citigroup, JPMorgan, Societe Generale
Coupon:	2 5/8%
Price:	98.808
Yield:	2.815%
Spread:	Mid-swaps plus 120 bps
Trade date:	Jan. 14
Settlement date:	Jan. 21
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB+
	Fitch: BBB+
Distribution:	Rule 144A/Regulation S
Price talk:	Mid-swaps plus 140 bps

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