February 9, 2017 / 12:08 PM / 8 months ago

Latvia launches dual-tranche euro offering

Feb 9 (IFR) - The Republic of Latvia has launched a dual-tranche euro offering, according to a lead.

The sovereign, rated A3/A-/A-, launched a €150m add-on of its €650m 0.375% 2026 bonds at 38bp over mid-swaps. That compares with an initial level of low 40s, and guidance at 40bp area.

It has also launched a new €500m 30-year bond at 98bp over mid-swaps. That compares with an initial level of 100-105bp over, and guidance at 100bp area.

The bonds are eligible for the ECB’s PSPP.

Books were in excess of €450m on the tap and in excess of €850m on the February 2047 notes.

The Reg S trade is via Deutsche Bank, Goldman Sachs and Societe Generale. (Reporting by Robert Hogg; editing by Sudip Roy)

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