German power company E.ON AG (EOAN.XE) has tightened price guidance on its EUR750 million, four-year, benchmark bond, to 155 basis points over mid-swaps, one of the banks managing the deal said Tuesday.
Original guidance was in the region of 165 basis points over mid-swaps.
E.ON has hired Banca Intermobiliare di Investimenti e Gestioni SpA, Banco Bilbao Vizcaya Argentaria SA, Fortis NV, and WestLB AG as joint-lead managers for the deal, which is expected to price later Tuesday.
The issuer is rated A2 by Moody's Investors Service Inc. and A by both Standard & Poor's Corp. and Fitch Ratings Inc.