Spain's ICO To Price Euro 4-Year Bond At SPGB +0.55
March 13 2012 - 8:08AM
Dow Jones News
Spain's state-owned business support group Instituto de Credito
Oficial, or ICO, is to price its euro-denominated, benchmark-size,
four-year bond at 55 basis points over the corresponding government
bond, or SPGB, one of the banks running the deal said Tuesday.
This is tighter than initial price guidance, which was in the
area of 60 basis points over midswaps.
Books on the bond are in excess of EUR1.75 billion.
BBVA, Caixabank, HSBC Holdings PLC and Societe Generale SA are
the lead managers on the deal, which is expected to price later
Tuesday.
The issuer is rated A3 by Moody's Investors Services Inc., A by
Standard and Poor's Corp. and A by Fitch Ratings.
- By Sarka Halas, Dow Jones Newswires; +44 (0) 207 842 9236;
Sarka.Halasova@dowjones.com
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