LONDON, Jan 14 (IFR) - The Republic of Latvia has set initial price thoughts of 140bp area over mid-swaps on its upcoming issue of a seven-year bond, according to one of the lead managers.
The sovereign, rated Baa2/BBB+/BBB+, has indicated that the deal will be of benchmark size.
Citigroup, JP Morgan and Societe Generale are the lead managers on the offering, which is being sold under the 144A/Reg S format and is expected to price later on Tuesday.
The deal follows the country's adoption of the euro on January 1. (Reporting by Davide Scigliuzzo; Editing by Sudip Roy)