Latvian return underscores recovery

07 Dec 2012

Latvia on Wednesday issued its first syndicated trade since February, taking advantage of hot emerging markets demand and improving investor sentiment towards the Baltic country, to price a deal at less than half the spread of its last outing.

The benchmark trade saw heavy demand despite pricing being brought in a lot from initial price thoughts, and at the tight end of guidance which was inside Latvia’s curve.

Barclays, Deutsche Bank and JP Morgan priced the $1.25bn 2.75% January 2020 paper at 187.5bp over Treasuries. Initial price ...

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