Chicago, June 6 – The Republic of Croatia priced €1.5 billion of 4% 12-year notes (Baa2/BBB+/BBB+) on Tuesday, according to information from a market source.
The notes priced at 99.56 to yield 4.047%, or at mid-swaps plus 105 basis points. Guidance was moved into the mid-swaps plus 115 bps area during pricing after starting in the 135 bps area when books opened.
J.P. Morgan SE, BNP Paribas, Raiffeisen Bank International and UniCredit/Zagrebacka banka are joint bookrunners.
The final book was over €6 billion.
The Regulation S notes will be listed in Luxembourg.
| Issuer: | Republic of Croatia
|
| Amount: | €1.5 billion
|
| Issue: | Notes
|
| Maturity: | June 14, 2035
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| Bookrunners: | J.P. Morgan SE, BNP Paribas, Raiffeisen Bank International and UniCredit/Zagrebacka banka
|
| Coupon: | 4%
|
| Price: | 99.56
|
| Yield: | 4.047%
|
| Spread: | Mid-swaps plus 105 bps
|
| Trade date: | June 6
|
| Settlement date: | June 14
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| Ratings: | Moody’s: Baa2
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 135 bps area, then tightened to mid-swaps plus 115 bps area
|
| ISIN: | XS2636439684
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