Visit to international markets fills financing for 2017

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Latvia's latest foray onto the international financial markets was a success, meaning all refinancing needs for the year have been met, the State Treasury reported June 2.

"On Thursday June 1, Latvia successfully priced a dual-tranche Eurobond transaction in an aggregate amount of EUR 350 million, thus completing the Latvia’s financing requirement for 2017 in the international capital markets," the State Treasury reported.

Latvia reopened two of its Eurobonds – its 0.375% Eurobond maturing October 7, 2026, increasing the outstanding amount of these bonds by EUR 150 million at a yield of 0.950%, and its 1.375% Eurobond maturing May 16, 2036, increasing the outstanding amount by EUR 200 million at a yield of 1.703%.

Demand for both tranches exceeded issue size by more than 3 times, with more than 120 investors placing orders.

Investors were mainly from Europe: Germany, France, Austria, United Kingdom, Italy, Switzerland and other countries.

The Joint Lead Managers were Deutsche Bank, Goldman Sachs International and Société Générale.

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