By Rebecca Melvin
New York, June 1 – The Republic of Latvia priced a combined €350 million of notes on Thursday as add-ons to existing notes due in 2026 and 2036, according to market sources.
Latvia priced a tranche of €150 million of the 3/8% notes due 2026 at 94.887 and with a spread of 71.7 basis points over the benchmark DBR 4¾% notes due 2026.
The sovereign also priced €200 million of the 1 3/8% notes due 2036 at 94.727 with a spread of 95.1 bps to the benchmark DBR 0% notes due 2034.
Goldman Sachs International, Societe Generale and Deutsche Bank AG were stabilizing managers for the Regulation S deals.
Latvia priced a €150 million add-on to its 3/8% notes due 2026 in February, and the initial deal of €650 million of the 2026 notes in October 2016, according to Prospect News.
Latvia priced €650 million of the 1 3/8% notes due 2036 (A3/A-/A-) in May 2016.
| Issuer: | Latvia
|
| Amount: | €350 million
|
| Description: | Senior note add-ons
|
| Bookrunners: | Goldman Sachs International, Societe Generale Deutsche Bank AG
|
| Trade date: | June 1
|
| Distribution: | Regulation S
|
|
|
| Tap of notes due 2026
|
| Amount: | €150 million add-on
|
| Maturity: | 2026
|
| Coupon: | 3/8%
|
| Price: | 94.887
|
| Spread: | 71.7 bps over benchmark DBR 4¾% notes due 2026
|
| Previous issues: | €650 million priced in October 2016 and €150 million add-on in February 2017
|
| Total amount: | €1 billion
|
|
|
| Tap of notes due 2036
|
| Amount: | €200 million add-on
|
| Maturity: | 2036
|
| Coupon: | 1 3/8%
|
| Price: | 94.727
|
| Spread: | 95.1 bps over benchmark DBR 0% notes due 2034
|
| Previous issues: | €650 million priced in May 2016
|
| Total amount: | €800 million
|
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