Latvia
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Online consumer loan provider 4Finance plans to increase its euro denominated bonds as it closes its acquisition of unsecured loan specialist TBI Bank from TBIF, the Dutch financial services group. -
Latvia saw strong demand for a new 10 year euro deal against a choppy market backdrop on Friday.
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Romania achieved a wafer-thin new issue premium for a €1bn reopening of its May 2028s on Wednesday, setting a good precedent in euros for Latvia which mandated for a 10 year deal on Thursday.
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Central and eastern European sovereign bond issuers can more and more rely on rates investors to come into their bond deals. But many of these borrowers are still handled by investment banks’ emerging market teams. So when is an issuer SSA rather than EM?
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The Republic of Latvia sold its €650m 1.375% 20 year bond on Tuesday — a deal that attracted $2bn of orders.
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Latvia was speaking to investors on Monday in an effort to arrange its first bond of the year, a long dated euro-denominated note that will be sold almost entirely to rates — rather than emerging markets — buyers, according to leads.
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Latvia on Tuesday sold €550m 0.5% December 2020s from a book of €1.6bn, in conjunction with a buyback of its old dollar debt, switching out some of its traditional EM investor base for new rates buyers.
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Latvia has named its banks to arrange a euro-denominated new issue and manage a concurrent tender offer for the country’s 2020s and 2021s.
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The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.
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The Republic of Latvia sold its €500m 10 year bond on Wednesday attracting a €800m book and a new SSA investor base.
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The Republic of Latvia has released initial price guidance at 40bp area over mid-swaps for its new 10 year euro denominated bond, representing only a 20bp new issue premium, but a doubling of the sovereign’s secondary spreads, according to bankers away from the note.
