By Christine Van Dusen
Atlanta, Dec. 8 – Republic of Latvia sold $550 million 0.5% five-year notes (A3/A-/A-) at 99.843 to yield mid-swaps plus 28 basis points on Tuesday, a market source said.
The notes were talked at a spread in the low-to-mid-30 bps area.
Barclays, Goldman Sachs and JPMorgan were the bookrunners for the Regulation S deal.
Proceeds from the sale will be used to fund a tender offer for up to $525 million of its $1.25 billion of 2¾% notes due 2020 and $500 million of 5¼% notes due 2021, according to a notice.
| Issuer: | Republic of Latvia
|
| Amount: | $550 million
|
| Maturity: | Dec. 15, 2020
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Goldman Sachs, JPMorgan
|
| Coupon: | 0.5%
|
| Price: | 99.843
|
| Spread: | Mid-swaps plus 28 bps
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 15
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus low-to-mid-30 bps area
|
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