Dubai-listed Tabreed tightens guidance for 7-year bonds – document

Dubai-listed Tabreed tightens guidance for 7-year bonds – document

Dubai-listed Tabreed tightens guidance for 7-year bonds - document Tabreed gave initial price guidance of around 250 basis points over mid-swaps    Labourers walk past a Tabreed building in Dubai March 8, 2010. Tabreed is Middle East's largest district cooling firm. DUBAI- Dubai-listed National Central Cooling Company (Tabreed) TABR.DU is expected to sell $400 million in seven-year bonds and received over $1.4 billion in orders for the debt sale, a document showed on Wednesday.It tightened the guidance to between 225 basis points (bps) and 230 bps over mid-swaps after it began marketing the bonds at around 250 bps over mid-swaps earlier on Wednesday, according to the document issued by one of the banks arranging the deal, which is expected to close later on Wednesday.(Reporting by Yousef Saba, editing by Louise