Bulgaria swoops into market for €2.5bn dual trancher

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By Mariam Meskin
16 Sep 2020

The Republic of Bulgaria issued a €2.5bn dual-tranche bond on Tuesday to support its expanding state budget, following a raft of its regional peers which are responding to the Covid-19 crisis with substantial deals.

The €2.5bn Reg S-only print for the Baa2/BBB/BBB rated country was split evenly between a 0.375% September 2030 and a 1.375% September 2050.

The 10 year portion was priced at 60bp over mid-swaps to yield 0.389%, while the 30 year came at 145bp over mid-swaps to yield 1.476%. ...

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