UPDATE:Caterpillar To Price 3-Year Bond At Swaps +0.85-Source

10th Jun 2010 11:33

(Adds details) By Art Patnaude Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Construction and mining equipment maker Caterpillar Inc. (CAT) has set final terms on its three-year, EUR300 million bond at 85 basis points over midswaps, a person familiar with the matter said Thursday. This guidance is at the tight end of the initial range of 85 to 90 basis points over midswaps. Order books stand around EUR2 billion for the deal, which will be issued by Caterpillar International Finance Ltd. and guaranteed by Caterpillar's financial arm Caterpillar Financial Services Corporation. Royal Bank of Scotland Group PLC and Societe Generale SA are joint lead managers on the bond issue, which is expected to price later Thursday. Caterpillar is rated A2 by Moody's Investors Service Inc. and A by Standard & Poor's Corp. and Fitch Ratings. -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires June 10, 2010 06:33 ET (10:33 GMT)