LONDON, March 4 (IFR) - The Republic of Croatia has tightened price guidance on a 10-year euro-denominated benchmark sized bond to mid-swaps plus 270bp area, according to a lead.
This is tighter than initial price thoughts of mid-swaps plus 287.5bp area at which Croatia began marketing the deal earlier today.
Demand for the trade has reached around 5bn, the lead added.
Barclays, Erste Bank, JP Morgan and UniCredit are running the Reg S trade. It is expected to be today’s business.
Croatia is rated Ba1 by Moody‘s, BB by Standard & Poor’s and BB by Fitch. (Reporting By Michael Turner, Editing by Helene Durand)