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National Grid plans 5-yr 500 mln euro bond -IFR

Tue Jan 13, 2009 3:27am EST

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LONDON, Jan 13 (Reuters) - British energy network operator National Grid (NG.L) plans to issue a five-year 500 million euro ($670 million) bond, with initial guidance set at mid-swaps plus around 375 basis points, IFR reported on Tuesday.

National Grid has named Barclays, Deutsche Bank, JP Morgan and Merrill Lynch for the deal, due to mature in April 2014, said IFR Markets, a Thomson Reuters online news and market analysis service.

Last week National Grid issued a 350 million pounds ($523 million) bond, due to mature in 2031. (Reporting by Jonathan Cable)



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