Spanish utility Iberdrola SA (IBE.MC) has set final price guidance on its EUR750 million, six-year bond at 143 basis points above midswaps, one of the banks leading the sale said Wednesday.

This is tightened from earlier guidance, which had been set in the area of between 145 basis points and 150 basis points above midswaps.

Barclays PLC, Credit Agricole SA, Lloyds TSB, JPMorgan Chase & Co., Royal Bank of Scotland PLC and Banco Santander SA are lead managers on the issue, which is expected to price later Wednesday.

Iberdrola is rated A3 by Moody's Investors Services Inc. and A- by Standard & Poor's Corp.

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