Latvia

The Republic of Latvia sold its €650m 1.375% 20 year bond on Tuesday — a deal that attracted $2bn of orders.

Latvia was speaking to investors on Monday in an effort to arrange its first bond of the year, a long dated euro-denominated note that will be sold almost entirely to rates — rather than emerging markets — buyers, according to leads.

Latvia on Tuesday sold €550m 0.5% December 2020s from a book of €1.6bn, in conjunction with a buyback of its old dollar debt, switching out some of its traditional EM investor base for new rates buyers.

Latvia has named its banks to arrange a euro-denominated new issue and manage a concurrent tender offer for the country’s 2020s and 2021s.

The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.

The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.

The Republic of Latvia has released initial price guidance at 40bp area over mid-swaps for its new 10 year euro denominated bond, representing only a 20bp new issue premium, but a doubling of the sovereign’s secondary spreads, according to bankers away from the note.

The Republic of Latvia has mandated DNB, HSBC and Natixis to arrange a 10 year euro denominated benchmark bond, its first since the start of ECB sovereign bond buying.

Latvenergo, a state-owned Latvian electricity company, opened books on a sub-benchmark sized green bond on Wednesday morning — its first ever international bond deal and Latvia's first green bond.