BFR Bbva Banco Frances S.A.

Spain's state-owned business support group Instituto de Credito Oficial, or ICO, priced a 600 million euro ($767.2 million) three-and-a-half-year bond, one of the banks running the deal said Monday.

The bond priced at 65 basis points over the corresponding Spanish government bond.

BBVA, Credit Agricole SA, Goldman Sachs Group Inc. and Santander GBM were joint bookrunners.

 
Amount:           EUR600 million 
Maturity:         March 17, 2016 
Coupon:           4.5% 
Reoffer Price:    99.727 
Payment Date:     Sept. 17, 2012 
Spread:           65 basis points over the SPGBs 
Debt Ratings:     Baa3 (Moody's) 
                  BBB+ (Standard & Poor's) 
                  BBB  (Fitch) 
Interest:         Annual 
 

Write to Art Patnaude at art.patnaude@dowjones.com