Electricite de France SA (EDF.FR) has refined guidance on its planned 15-year bond to 90 basis points over mid-swaps, and has set the size of the issue at EUR2.5 billion, one of the banks managing the deal said Friday.
Initial price guidance was earlier set at 90-100 basis points over mid-swaps.
Calyon, HSBC Holdings PLC, 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.
The issuer is rated Aa3 by Moody's Investors Services Inc.