New Issue: Latvia’s €500 million 1 3/8% 10-year notes yield mid-swaps plus 35 bps

By Aleesia Forni

Virginia Beach, Sept. 17 – Republic of Latvia sold €500 million of 1 3/8% 10-year notes (A3/A-) at 99.316, or mid-swaps plus 35 basis points, on Wednesday, according to a market source.

Pricing was at the tight end of guidance set in the 35 bps to 40 bps range over mid-swaps following initial talk in the mid-swaps plus 40 bps area.

DNB, HSBC and Natixis are the bookrunners.

Issuer:	Republic of Latvia
Amount:	€500 million
Description:	Notes
Maturity:	Sept. 23, 2025
Bookrunners:	DNB, HSBC, Natixis
Coupon:	1 3/8%
Price:	99.316
Spread:	Mid-swaps plus 35 bps
Trade date:	Sept. 16
Ratings:	Moody’s: A3
	Standard & Poor’s: A-
Price guidance:	Mid-swaps plus 35 bps to 40 bps, tightened from mid-swaps plus 40 bps area

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