LV: Latvia places USD 1bn worth of Eurobonds.

By bne IntelliNews February 16, 2012
Latvia is going to place USD 1bn worth of 5-year Eurobonds amidst a high demand of about USD 5bn, Reuters reports citing a source close to the deal. At the same time while the initial price guidance stood at 5.625%, it declined to 5.375%-5.5%. FinMin is on the road-show to place the bonds since the beginning of February, issue being organised by HSBC, Deutsche Bank and JPMorgan. In June 2011 Latvia placed an issue of USD 500mn 10-year eurobonds yielding 5.491% annually. The placement was organised by Credit Suisse and Citi. Fitch rated the eurobond issue at BBB-, in line with the countrys sovereign long-term crediting rating. This made the first placement of eurobonds since the beginning of 2008.

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