Michelin bond to price at swaps +195 bps -lead

Newswire

LONDON, Nov 26 (Reuters) - Compagnie Generale des Etablissements Michelin , Europe's biggest tyre maker, will sell its 500 million euro 30-year bond at 195 basis points over swaps on Wednesday, a lead manager for the deal said. The price guidance for the bond, which will be callable after 10 years, is in the lower end of the initial range of 190 to 210 basis points over swaps. "Allocations are almost done," the syndicate official said. "We will price the transaction in the course of the ...

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