By Rebecca Melvin
New York, June 12 – The Republic of Lithuania priced €1.5 billion of notes in two tranches due 2029 and 2049 on Wednesday, according to a market source.
The €650 million of ½% 10-year notes priced at 99.003 for a yield of 0.63%, or spread of 33 basis points over mid-swaps. The pricing was tightened from guidance of mid-swaps plus 33 bps to 37 bps and earlier talk of mid-swaps plus 40 bps to 45 bps.
The €850 million of 1 5/8% 30-year notes priced at 97.513 for a yield of 1.732%, or a spread of mid-swaps plus 88 bps, which was tightened from guidance of in the mid-swaps plus 88 bps to 92 bps area and earlier talk of mid-swaps plus 95 bps to 100 bps.
Order books at the time of revised guidance stood in excess of €1.8 billion for the 10-year notes and in excess of €2 billion for the 30-year notes.
JPMorgan (billing and delivery) and BNP Paribas are lead managers and bookrunners of the Regulation S deal.
| Issuer: | Republic of Lithuania
|
| Description: | Notes
|
| Total amount: | €1.5 billion
|
| Bookrunners: | JPMorgan (billing and delivery) and BNP Paribas
|
| Pricing date: | June 12
|
| Settlement date: | June 19
|
| Distribution: | Regulation S
|
|
|
| 2029 notes
|
| Amount: | €650 million
|
| Maturity: | June 19, 2029
|
| Coupon: | ½%
|
| Price: | 99.003
|
| Yield: | 0.63%
|
| Spread: | 33 bps over mid-swaps
|
| Price talk: | Guided to 33-37 bps over mid-swaps from initial talk of 40-45 bps over mid-swaps
|
|
|
| 2049 notes
|
| Amount: | €850 million
|
| Maturity: | June 19, 2049
|
| Coupon: | 1 5/8%
|
| Price: | 97.513
|
| Yield: | 1.732%
|
| Spread: | 88 bps over mid-swaps
|
| Price talk: | Guided to mid-swaps plus 88-92 bps area from initial talk of mid-swaps plus 95-100 bps
|
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