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)