Spanish lender Instituto de Credito Oficial, or ICO, guaranteed by Spain, priced a EUR1 billion tap of its 2014 bond, one of the banks running the deal said Friday.

This takes the amount of the 2014 bond now outstanding to EUR2.1 billion.

Credit Agricole SA and Bankinter SA are the lead managers on the sale, which has the following terms:

 
Amount:           EUR1 billion 
Maturity:         Jan 20, 2014 
Coupon:           3.5% 
Reoffer Price:    99.35 
Payment Date:     Dec 23, 2011 
Spread:           75 basis points over the corresponding Spanish 
                  government bond 
Guarantor:        Spain 
Debt Ratings:     A1 (Moody's) 
                  AA- (Standard & Poor's) 
                  AA- (Fitch) 
 

-By Ben Edwards, Dow Jones Newswires; 44-20-7842-9287; ben.edwards@dowjones.com

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