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UPDATE 3-Belgium to print EUR5bn 5yr bond
(Adds final size and orders)
By John Geddie
LONDON, Feb 19 (IFR) - The Kingdom of Belgium, rated Aa3/AA/AA, will print a EUR5bn five-year bond at mid-swaps plus 16bp later on Tuesday, said a market source close to the deal.
Final orders were above EUR8.5bn, said the source.
Books opened on Tuesday morning with official guidance at mid-swaps plus 18bp area, in line with initial talk released on Monday at mid-swaps plus high teens. As orders topped EUR5bn guidance was refined to mid-swaps plus 16/18bp.
Lead banks Credit Agricole, HSBC, ING and KBC will price the June 2018 bond, OLO 69, later on Tuesday.
Fair value on the new debt sale is mid-swaps plus 13bp, indicating that investors are being offered a 3bp concession to buy the new bonds. (Reporting by John Geddie; editing by Julian Baker)
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