Latvia hires banks for international euro bond - sources

Tue Jan 7, 2014 7:07am EST

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LONDON, Jan 7 (IFR) - The Republic of Latvia has hired Citigroup, JP Morgan and Societe Generale to lead the issuance of a euro-denominated international bond, according to market sources.

The issue would follow the country's adoption of the single currency on January 1.

Latvia's State Treasury said in December it might borrow up to EUR2bn on the international markets in 2014.

The sovereign, rated Baa2/BBB+/BBB+, was last in the international capital markets in December 2012, when it raised USD1.25bn via a seven-year bond.

The banks declined to comment.

(Reporting by Davide Scigliuzzo; Editing by Sudip Roy)

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