UPDATE:L-Bank To Price EUR1 Billion 5-Year Bond At Swaps -0.05

28th Jul 2010 12:34

(Adds details) By Art Patnaude and Mark Brown Of Dow Jones Newswires LONDON (Dow Jones)--Landeskreditbank Baden-Wuerttemberg, or L-Bank, will price its EUR1 billion, 2015-dated bond at five basis points below midswaps, one of the banks running the sale said Wednesday. Pricing will be at the tight end of guidance, which was set between five and four basis points below midswaps earlier Wednesday. Order books are well above EUR1.1 billion and will close at 1200 GMT. Pricing is expected later Wednesday. Barclays Capital PLC, Commerzbank AG, JPMorgan Chase & Co. and UniCredit SpA are joint-lead managers of the deal, which is guaranteed by the German Federal State of Baden-Wuerttemberg. L-Bank is rated triple-A by Moody's Investors Service Inc. and Fitch Ratings, and AA+ by Standard & Poor's Corp. -By Art Patnaude and Mark Brown, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires July 28, 2010 07:34 ET (11:34 GMT)