The Kingdom of Spain has set price guidance on its tap of the 5.85% bond maturing January 2022, one of the banks running the deal said Wednesday.

Initial guidance is in the area of 35 basis points over the corresponding Spanish government bond.

Barclays PLC, Deutsche Bank AG, Goldman Sachs, Banco Santander, Societe Generale SA and Banco Bilbao Vizcaya Argentaria are the lead managers on the sale.

Spain is rated A1 by Moody's Investors Service Inc. and A by Standard & Poor's Corp. and Fitch Ratings.

-By Ben Edwards, Dow Jones Newswires; 44-20-7842-9287; ben.edwards@dowjones.com