LONDON, Sept 3 (IFR) - The Republic of Portugal (Ba1/BB/BB+) has revised price guidance on its 15 year benchmark-sized euro-denominated bond to a spread of 235-240bp over mid swaps, according to a lead.
This is inside initial guidance released earlier on Wednesday of low 240s over mid-swaps. The order book on the Reg S bond has already passed 6bn.
Portugal is expected to price the bond later today via joint lead managers Caixa BI, Credit Agricole CIB, Danske Bank, Deutsche Bank, Morgan Stanley and Nomura.
Reporting By Michael Turner; editing by Sudip Roy