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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessPREVIEW: Latvia long 7-year
- Yesterday, Latvia issued a mandate for a new long 7-year benchmark LATVIA GMTN bond maturing 24 January 2029. We expect the transaction to take place today.
- Latvia's funding plans state that it looks to issue E2.25bln in 2021 through syndications. It has already raised E1.25bln (a record transaction size for Latvia) in March with the launch of the 0% Mar-31 LATVIA GMTN.
- Latvia has also held regular small-sized reopenings through its GMTN programme with 11 transactions so far in 2021 totalling E242mln.
- In terms of other notable transactions in prior years, Latvia launched a new 30-yearbond in February 2019 with E700mln sold before reopening the same issue in May for a further E300mln. In March 2020, Latvia tapped the 6-year bond for E550mln before launching a new 3-year bond in April 2020 for E1bln.
- We look for a transaction size of E1.0bln, although note it could be increased in size to E1.25bln if there is very strong demand.
- Bookrunners: Barclays, BNP Paribas and Credit Agricole CIB
- Timing: The March transaction saw books open around 8:15, guidance updated just after 10:00, the spread set just before 11:30 with the deal priced around 15:20 (all times are UK).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.