Spain's ICO Revises Pricing On Euro 4-Year Bond To SPGB +0.55-0.60
March 13 2012 - 7:19AM
Dow Jones News
Spain's state-owned business support group Instituto de Credito
Oficial, or ICO, has revised pricing on its euro-denominated,
benchmark-size, four-year bond to between 55 to 60 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 EUR1.4 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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