By Rebecca Melvin
New York, Sept. 6 – The Republic of Latvia priced €350 million of notes in a reopening of two tranches, including €150 million of the 2028 notes and €200 million of the 2047 notes, on Wednesday, according to a market source.
The €150 million of 1 1/8% notes due 2028 priced at 101.178 for a yield of 0.997%, or mid-swaps plus 14 basis points. The total deal size stands at €500 million, including the original €350 million of 10-year notes that priced in May.
The €200 million add-on to its 2¼% notes due 2047 priced at 108.522 to yield 1.861%, or mid-swaps plus 38 bps. The total deal size is €700 million, including 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: | €350 million
|
| Description: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities plc, Citigroup and Natixis
|
| Trade date: | Sept. 5
|
| Distribution: | Regulation S
|
|
|
| Tap of notes due 2028
|
| Amount: | €150 million add-on
|
| Maturity: | May 30, 2028
|
| Coupon: | 1 1/8%
|
| Price: | 101.178
|
| Yield: | 0.997%
|
| Spread: | Mid-swaps plus 14 bps
|
| Original issue: | €350 million priced in May 2018
|
|
|
| Tap of notes due 2047
|
| Amount: | €200 million add-on
|
| Maturity: | Feb. 15, 2047
|
| Coupon: | 2¼%
|
| Price: | 108.522
|
| Yield: | 1.861%
|
| Spread: | Mid-swaps plus 38 bps
|
| Original issue: | €500 million priced in February 2017
|
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