UPDATE 2-Michelin plans to sell 500 mln euro bond

Newswire

(Updates price guidance, adds comment from S&P) LONDON, Nov 26 (Reuters) - Europe's biggest tyre maker Michelin 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. Price guidance for the bond, which will be callable after 10 years, was refined during the day to give an expected yield of 195 basis points over swaps, at the low end of the ...

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