LONDON, April 15 (Reuters) - Veolia Environnement has set the size of a planned dual-tranche bond at 2 billion euros ($2.7 billion) and has refined guidance at the tight end of the initial estimates, IFR reported on Wednesday.
Final guidance has been set at mid-swaps plus 250 basis points for a 1.25 billion euro five-year tranche, versus an initial range of 250 to 260 basis points, said IFR Markets, a Thomson Reuters online news and market analysis service.
The 10-year 750 million euro tranche has been finalised at mid-swaps plus 330 basis points versus the initial range of 330 to 340 basis points, IFR said.
Investor interest amounted to about 6.5 billion euros from 330 accounts for the five-year bond and 3 billion euros from 200 accounts for the 10-year, IFR said.
BNP Paribas, Calyon, Credit Suisse, Natixis and SG CIB are managing the deal.
The French water and waste management company, which is rated BBB+ by Standard & Poor's, A3 by Moody's Investors Service and A- by Fitch Ratings, plans to use the proceeds to refinance existing debt, IFR said.
(Reporting by Jane Baird; Editing by Erica Billingham) ($1=.7562 Euro) Keywords: VEOLIA/BOND (jane.baird@thomsonreuters.com, Reuters Messaging: jane.baird.reuters.com@reuters.net, +442075422471) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Final guidance has been set at mid-swaps plus 250 basis points for a 1.25 billion euro five-year tranche, versus an initial range of 250 to 260 basis points, said IFR Markets, a Thomson Reuters online news and market analysis service.
The 10-year 750 million euro tranche has been finalised at mid-swaps plus 330 basis points versus the initial range of 330 to 340 basis points, IFR said.
Investor interest amounted to about 6.5 billion euros from 330 accounts for the five-year bond and 3 billion euros from 200 accounts for the 10-year, IFR said.
BNP Paribas, Calyon, Credit Suisse, Natixis and SG CIB are managing the deal.
The French water and waste management company, which is rated BBB+ by Standard & Poor's, A3 by Moody's Investors Service and A- by Fitch Ratings, plans to use the proceeds to refinance existing debt, IFR said.
(Reporting by Jane Baird; Editing by Erica Billingham) ($1=.7562 Euro) Keywords: VEOLIA/BOND (jane.baird@thomsonreuters.com, Reuters Messaging: jane.baird.reuters.com@reuters.net, +442075422471) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.