Spain's state-owned business support group Instituto de Credito Oficial, or ICO, has revised pricing on its euro-denominated, benchmark-sized bond to 65 basis points to 70 basis points over the corresponding government bond, one of the banks running the deal said Wednesday.

This is at the tighter end of initial guidance which was set in the area of 70 basis points.

Books are now approaching EUR2 billion.

Barclays Plc, Bankia SA, BBVA, and Credit Agricole are the lead managers on the deal which is expected to price later Wednesday.

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

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