Croatia launches 1.5bn 10-year bond at mid-swaps plus 255bp

LONDON: The Republic of Croatia has launched a 1.5bn 10-year bond at mid-swaps plus 255bp, according to a lead.

This is at the tight end of the revised price guidance of plus 255bp (plus or minus 5bp) and inside initial price guidance of plus 270bp area.

The deal has tightened by 32.5bp since initial price thoughts were released at plus 287.5bp area earlier today. Books reached around 6.25bn, the lead added.

Barclays, Erste Bank, JP Morgan and UniCredit are running the Reg S trade.

Croatia is rated Ba1 by Moody's, BB by Standard & Poor's and BB by Fitch.