LONDON, July 2 (IFR) - The Republic of Bulgaria, rated Baa2/BBB by Moody’s and S&P respectively, has launched a EUR950m five-year bond at mid-swaps plus 320bp, a market source said on Monday.
That is significantly tighter than initial guidance set earlier on Monday in the area of mid-swaps plus 350bp.
BNP Paribas, HSBC and RBI are running the deal, on which books have now closed. The bond is expected to price later today.
Bulgaria was last in the euro-denominated bond market in 2002. (Reporting by Natalie Harrison, IFR Markets; editing by Josie Cox)