DUBAI, Oct 27 (Reuters) - Equate Petrochemical has set the final guidance for its bond offering, expected to be priced later on Thursday, but will not offer a 30-year debt tranche mooted a day ago, according to a document from arranging banks.

Guidance for the two-part deal has been set in the area of 212.5 basis points over midswaps for the planned five-year notes and in the area of 287.5 basis points over midswaps for the ten-year part of its bond offering.

The bond offering by Equate, a joint venture between Dow Chemical and Kuwait's Petrochemical Industries Company (PIC), has received orders in excess of $2 billion, the document said.

The company decided not to sell 30-year paper as part of its bond offering, an option which it was considering on Wednesday when it released initial price thoughts for the bond. No reason for the decision was given in Thursday's statement.

Order books for U.S. investors went subject on Wednesday at close of business in New York, while books for European, Middle Eastern and Asian investors will go subject on Thursday at 0900 GMT, the document added.

Citi, HSBC, JP Morgan, and NBK Capital are the joint lead managers and they are bookrunners together with Banca IMI, Mizuho Securities, MUFG, and SMBC Nikko.



(Reporting by Umesh Desai in Hong Kong; Writing by Davide Barbuscia; Editing by Vyas Mohan) ((Davide.Barbuscia@thomsonreuters.com;))