SAP Sets Price Guidance On Two-Tranche Euro Bond Issue

29th Jul 2010 12:52

LONDON (Dow Jones)--German business software provider SAP AG (SAP) has set price guidance on its two-tranche bond issue, one of the banks running the sale said Thursday. The three-year, EUR600 million bond will price at 60 basis points over midswaps, while the 18-month, EUR500 million tranche is going to price at 50 basis points over midswaps. Barclays Capital PLC and Deutsche Bank AG are joint bookrunners on the deal, which is expected to price later Thursday. The issuer is unrated. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires July 29, 2010 07:52 ET (11:52 GMT)