China tightens guidance for €1 billion bonds due 2014 to mid-swaps plus 40 to 41 bps

By Reshmi Basu

New York, Oct. 20 - The People's Republic of China tightened price guidance for its €1 billion bond offering due 2014 to yield mid-swaps plus 40 to 41 basis points, according to a market source.

Initial price guidance had been set at 43 basis points over the euro mid-swaps.

Guidance for a separate $500 million bond offering due 2009 has been set at 63 basis points over U.S. Treasuries.

BNP Paribas, Deutsche Bank and UBS AG are running the euro tranche, and Goldman Sachs & Co., JP Morgan, Merrill Lynch & Co. and Morgan Stanley are managing the dollar tranche.

Pricing for the dual tranche Regulation S deal is expected on Thursday.

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