BHH to price 500 mln euro bond at m/s +80 bps

LONDON | Wed Aug 12, 2009 6:30am EDT

LONDON Aug 12 (Reuters) - Germany's Berlin Hannoversche Hypothekenbank BHHG.DE is to price its 2-year 500 million euro ($706 million) bond at mid-swaps plus 80 basis points, IFR reported on Wednesday.

Guidance for the bond had been set at mid-swaps plus around 85 basis points, said IFR markets, a Thomson Reuters online news and market analysis service.

Books have closed for the deal at 1.1 billion euros, with demand driven by domestic buyers, and the bond may exceed the initial 500 million euros initially indicated, IFR said.

Commerzbank, DZ Bank, LBBW and UniCredit (HVB) have been named to managed the deal, IFR added.

BHH is rated A+ by Fitch Ratings.

(Reporting by Jonathan Cable)

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