New Issue: Latvia prices €1 billion 2 7/8% notes due 2024 at 120 bps spread

By Christine Van Dusen

Atlanta, April 24 - Latvia printed a €1 billion offering of 2 7/8% notes due April 30, 2024 (Baa2/BBB+/BBB+) at 99.265 to yield mid-swaps plus 120 basis points, a market source said.

The sovereign came to market tighter than talk of a spread in the 135 bps area.

Barclays, Deutsche Bank and Natixis were the bookrunners for the Regulation S deal.

Issuer:	Latvia
Amount:	€1 billion
Maturity:	April 30, 2024
Description:	Notes
Bookrunners:	Barclays, Deutsche Bank, Natixis
Coupon:	2 7/8%
Price:	99.265
Spread:	Mid-swaps plus 120 bps
Trade date:	April 24
Settlement date:	April 30
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB+
	Fitch: BBB+
Distribution:	Regulation S
Price talk:	Mid-swaps plus 135 bps area

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