ICO Prices EUR2 Billion 2017 4.625% Bond At 99.465

Spain's state-owned business support group Instituto de Credito Oficial, or ICO, has priced it EUR2 billion, five-year bond at 65 basis points over the corresponding Spanish government bond, one of the banks running the deal said Wednesday.

Price guidance was revised tighter to 65-70 basis points over the bond; initial guidance was set in the area of 70 basis points.

Barclays PLC, Bankia SA, BBVA, and Credit Agricole SA were the lead managers on the deal.

The terms of the transaction are as follows:

 
Amount:           EUR2 billion 
Maturity:         Jan. 31, 2017 
Coupon:           4.625% 
Reoffer Price:    99.465 
Payment Date:     Jan. 25, 2012 
Spread:           65 basis points over the corresponding Spanish government bond 
Debt Ratings:     AA- (Standard & Poor's) 
Listing:          Luxembourg/England

-By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236; sarka.halasova@dowjones.com

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