French state-controlled utility Electricite de France SA (1024251.FR) has tightened price guidance to 210 basis points over mid-swaps for its upcoming four-year, euro-denominated, benchmark bond, one of the banks managing the deal said Tuesday.
Initial price guidance was set earlier Tuesday in the area of 210-220 basis points over mid-swaps.
BNP Paribas SA, Calyon, Natixis and Societe Generale SA are acting as joint-lead managers for the transaction, which is expected to price in the near future, subject to market conditions.