Spanish bank Caja de Madrid is expected to offer a planned two-year, euro-denominated benchmark bond in the area of 180 basis points over mid-swaps, one of the lead managers said Thursday.

Barclays PLC, Calyon, Caja de Madrid, JP Morgan Chase & Co. and UniCredit SpA have been hired to lead-manage the deal, which should be priced later in the session, subject to market conditions.

The issuer is rated A1 by Moody's Investors Service, A by Standard & Poor's Corp. and A+ by Fitch Ratings.

-By Sonja Cheung, Dow Jones Newswires; +44 20 7842 9315; sonja.cheung@dowjones.com
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