Update 1-Michelin plans to sell 500 mln euro bond

Newswire

(Adds detail) LONDON, Nov 26 (Reuters) - Compagnie Generale des Etablissements Michelin , Europe's biggest tyre maker, plans to sell a 500 million euro 30-year subordinated bond on Wednesday, a lead manager for the deal said. Orders for the bond exceeded 900 million euros on Wednesday morning, the banker said. The bond, which will be callable after 10 years, is expected to be priced to give a spread of 190 to 210 basis points over mid-swaps. SG CIB is the arranger and sole bookrunner ...

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