Bulgaria sells €1.5 billion of bonds at mid-swaps plus 215 bps

Chicago, Jan. 17 – Bulgaria, through its Minister of Finance, sold €1.5 billion of bonds due Jan. 27, 2033 (Baa1/BBB) on Tuesday, according to market source.

Final terms were still pending at press time.

The spread was set at 215 basis points to mid-swaps. Guidance tightened midday to the 225 bps area after initial talk in the 250 bps area.

Bookrunners for the issue are BNP Paribas, Citi, J.P. Morgan (billing and delivery) and UniCredit.

Books went over €7 billion.

Settlement will take place on Jan. 27, 2023 for the issue (ISIN: XS2579483319, XS2579483822).

Listing will be in Luxembourg.

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