Latvia borrows EUR 600 million from international financial markets

Latvia borrows EUR 600 million from international financial markets

Last week, Latvia borrowed EUR 600 million on international financial markets, according to information published by the Stat Treasury.

On Tuesday, the 17th of September, the State Treasury emitted seven-year Eurobonds worth EUR 600 million on international financial markets. The maturity date of the bonds is the 25th of January, 2032. The bond yields 3.138% and the coupon rate is 3%.

The demand for Latvian bonds among investors has reached the historically largest amount – almost five billion euros, notes the State Treasury.

Similarly, the number of investors was one of the largest – 140 investors from different European countries, including Germany, Austria, Great Britain, Ireland, the Nordic countries, Switzerland.

BNP Paribas, Deutsche Bank and Erste were the leading banks in the emission of bonds.

Previously, Latvia borrowed on the international financial markets in May 2024. Latvia priced 10-year bonds at USD 1.25 billion, returning to the US capital market after a 12-year hiatus. Bonds with a maturity date of 30th of July 2034 were priced with a credit risk premium of 83 basis points above the benchmark rate or US Treasury bonds, a yield of 5.252% and a coupon rate of 5.125%.

In order to prevent currency risk, a currency swap was concluded at the same time as the bond issue, converting the actual government debt liabilities into euros.

Also read: Week in Lithuania | Defence Ministry’s 2024-2030 military personnel plan approved; President calls for Foreign Ministry audit

Follow us on Facebook and X!

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66f31d25da504f0293b4b9d0831faaa3&url=https%3A%2F%2Fbnn-news.com%2Flatvia-borrows-eur-600-million-from-international-financial-markets-2-260962&c=13427237086446003699&mkt=de-de

Author :

Publish date : 2024-09-23 05:04:00

Copyright for syndicated content belongs to the linked Source.

Exit mobile version