UPDATE 1-CEZ to price 5-yr 500 mln euro bond on Tues -lead

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Czech electricity firm CEZ plans to sell a 5-year, 500 million euro ($711.8 million) bond at mid-swaps plus 65 to 70 basis points, an official at one of the banks managing the sale said on Tuesday.

Order books have opened and pricing is expected on Tuesday, the official said.

BNP Paribas and Citigroup are managing the sale.

CEZ is rated A2 by Moody's Investors Service and A- by Standard & Poor's.

On Sept. 27, CEZ head of financing Jan Brozik said the company had halved the maximum size of its euro medium-term note issuance programme to 2 billion euros.

Brozik said CEZ did not need to use the full original debt capacity.

[LONDON/Reuters/Finance.cz]