Swiss chemical company Clariant AG (CLN.VX) is to price its EUR500 million, five-year bond at 407.5 basis points over midswaps, one of the banks running the deal said Tuesday.

This is tighter than previous guidance which was in the area of 412.5 basis points over midswaps, which was revised even tighter from the initial guidance of 425 basis points to 437.5 basis points over midswaps.

BNP Paribas SA, Citigroup Inc., and Unicredit SpA are the lead managers on the deal, which is expected to price Tuesday.

The issuer is rated BBB- by Moody's Investors Services and Ba1 by Standard and Poor's Corp.

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

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