Ireland sets price guidance on May 2030 euro bond at 105bp area over mid swaps
By Michael Turner
LONDON, Nov 4 (IFR) - The Republic of Ireland (Other OTC: IRLD - news) has set price guidance of 105bp area over mid swaps on a May 2030 euro-denominated benchmark-sized bond, according to a lead banker.
This equals an implied yield of 2.55%. The leads released initial price thoughts of 105bp-110bp over mid-swaps earlier on Tuesday.
Indications of interest for the deal have reached 5.4bn including 900m of joint lead manager interest.
Citigroup (NYSE: C - news) , Danske Bank (Other OTC: DNSKY - news) , Davy, Morgan Stanley (Xetra: 885836 - news) , Nomura and RBS (LSE: RBS.L - news) are arranging the Reg S deal, which is expected to price on Tuesday.
Ireland is rated Baa1 (stable) by Moody's, A- (positive) by Standard & Poor's and A- (stable) by Fitch. (Reporting By Michael Turner, editing by Anil Mayre)