JP Morgan tightens guidance on senior bond -IFR

LONDON, March 25 | Wed Mar 25, 2009 8:28am EDT

LONDON, March 25 (Reuters) - JP Morgan (JPM.N) has tightened guidance on a planned five-year senior euro benchmark bond to mid-swaps plus 345 basis points, IFR reported on Wednesday.

Initial guidance was set at mid-swaps plus around 350 basis points, said IFR Markets, a Thomson Reuters online news and market analysis service.

Orders for the bond are in excess of 2.5 billion euros ($3.4 billion), IFR added.

The bond is one of a small number issued by banks in recent weeks that have not benefited from a government guarantee.

JPMorganChase & Co, which is rated A+ by Standard & Poor's, Aa3 by Moody's Investors Service, and AA- by Fitch Ratings, will be managing the deal itself, IFR said. ($1=.7408 Euro) (Reporting by Natalie Harrison; Editing by Hans Peters)

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