CEE sovereign duo sell bonds in deep euro market

AdobeStock_CEE_575x375_30June2020
By Mariam Meskin
25 Feb 2021

Serbia and Croatia issued euro-denominated bonds this week. Market participants said the deals showed there was strong appetite for the right kind of sovereign credits.

Croatia (Ba1/BBB-/BBB-) was set to issue a Reg S/144A dual tranche benchmark bond of 12 year and 20 year tranches.

Initial price thoughts on Thursday morning were 135bp over mid-swaps and 165bp over mid-swaps, respectively.

That was later tightened to 115bp area over mid-swaps and 145bp over mid-swaps.

By the afternoon, ...

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