By Rebecca Melvin
New York, April 28 – The Republic of Lithuania priced €2 billion of notes in two tranches due 2025 and 2030 on Tuesday, according to a market source.
The €750 million of ¼% five-year notes priced at 99.53 for a yield of 0.345%, or spread of 60 basis points over mid-swaps. The pricing was at the tight end of guidance of mid-swaps plus 60 bps to 65 bps.
The €1.25 billion of ¾% 10-year notes priced at 99.245 for a yield of 0.829%, or spread over mid-swaps of 90 bps, which was the tight end of mid-swaps plus 90 bps to 95 bps guidance.
The combined order book stood in excess of €3.25 billion, with a small skew toward the 10-year notes at the time guidance was released.
BNP Paribas (billing and delivery), Citigroup and Erste Group were bookrunners of the Regulation S deal.
| Issuer: | Republic of Lithuania
|
| Description: | Notes
|
| Total amount: | €2 billion
|
| Bookrunners: | BNP Paribas (billing and delivery), Citigroup and Erste Group
|
| Pricing date: | April 28
|
| Settlement date: | May 6
|
| Distribution: | Regulation S
|
|
|
| 2025 notes
|
| Amount: | €750 million
|
| Maturity: | May 6, 2025
|
| Coupon: | ¼%
|
| Price: | 99.53
|
| Yield: | 0.345%
|
| Spread: | 60 bps over mid-swaps
|
| Price talk: | Guided to 60-65 bps over mid-swaps
|
|
|
| 2030 notes
|
| Amount: | €1.25 billion
|
| Maturity: | May 6, 2030
|
| Coupon: | ¾%
|
| Price: | 99.245
|
| Yield: | 0.829%
|
| Spread: | 90 bps over mid-swaps
|
| Price talk: | Guided to mid-swaps plus 90-95 bps
|
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