LONDON, April 24 (IFR) - The Republic of Latvia has launched a 1bn 10-year bond at 120bp over mid-swaps, according to a lead manager.
This is at the tight end of final guidance of 120bp-125bp over mid-swaps, at which stage the order book exceeded 3.6bn.
The sovereign, rated Baa2/BBB+/BBB+, earlier on Thursday set initial price thoughts of 135bp area over mid-swaps before tightening official guidance to 125bp area over mid-swaps.
The deal is expected to price later today via Barclays, Deutsche Bank and Natixis. The maturity date is April 30, 2024.
Latvia last issued a bond in January, when it sold a 1bn seven-year note. That deal was its first in euro since the 2008 financial crisis. Latvia joined the eurozone on January 1. (Reporting By Abhinav Ramnarayan, editing by Anil Mayre)