Spain's ICO sizes 10-yr bond at 2 bln euros -IFR

LONDON May 11 (Reuters) - Instituto de Credito Oficial (ICO) [ICO.UL], which is guaranteed by Spain, has set the size of a 10-year bond at 2 billion euros ($2.7 billion) and the price at mid-swaps plus 88 basis points, IFR reported on Monday.

Guidance was tightened twice from mid-swaps plus 90 basis points and from an initial range of plus 90 to 95 basis points, according to IFR Markets, a Thomson Reuters online news and market analysis service.

BBVA, BNP Paribas, HSBC and JP Morgan are managing the issue for ICO, which provides financial backing to small and medium-sized businesses. (Reporting by Jane Baird; Editing by Rupert Winchester)