LONDON, Feb 9 (IFR) - The Republic of Latvia has revised pricing on a dual-tranche euro offering, according to a lead.
The sovereign, rated A3/A-/A-, has announced guidance of 40bp area over mid-swaps on a tap of its €650m 0.375% 2026 bonds. That compares with an initial level of low 40s.
It has also announced guidance of 100bp area over mid-swaps for a new 30-year bond, which will be sized at €500m. That compares with an initial level of 100-105bp over.
The bonds are eligible for the ECB’s PSPP.
Indications of interest are in excess of €450m on the tap and in excess of €800m on the February 2047 notes.
The Reg S trade is via Deutsche Bank, Goldman Sachs and Societe Generale.
Reporting by Sudip Roy; editing by Alex Chambers