By Rebecca Melvin
New York, May 24 – The Republic of Latvia priced €350 million of new 10-year notes and a €300 million add-on to its existing 2¼% notes due 2047, according to a syndicate source on Thursday.
The €350 million of 1 1/8% notes due 2028 price at 99.784 to yield 1.148%, or mid-swaps plus 15 basis points. That was the tight end of initial talk for a yield of mid-swaps plus 15 bps to 20 bps.
The €300 million add-on to its existing 2¼% notes due 2047 priced at 106.817 to yield 1.938%, or mid-swaps plus 37 bps, which was the tight end of initial talk in the mid-swaps plus 40 bps area.
The original €500 million of 2¼% notes priced in February 2017.
J.P. Morgan Securities plc, Citigroup and Natixis are stabilizing managers for the Regulation S deal.
Issuer: | Latvia
|
Amount: | €650 million
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Description: | Senior notes
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Bookrunners: | J.P. Morgan Securities plc, Citigroup and Natixis
|
Trade date: | May 23
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Settlement date: | May 30
|
Distribution: | Regulation S
|
|
New 10-year notes
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Amount: | €350 million
|
Maturity: | May 30, 2028
|
Coupon: | 1 1/8%
|
Price: | 99.784
|
Yield: | 1.148%
|
Spread: | Mid-swaps plus 15 bps
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Talk: | Mid-swaps plus 15 bps-20 bps
|
|
Tap of notes due 2047
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Amount: | €300 million add-on
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Maturity: | Feb. 15, 2047
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Coupon: | 2¼%
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Price: | 106.817
|
Yield: | 1.938%
|
Spread: | Mid-swaps plus 37 bps
|
Talk: | Mid-swaps plus 40 bps area
|
Original issue: | €500 million priced in February 2017
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