By Andrea Heisinger
New York, March 22 - DnB NOR Boligkreditt AS priced $2 billion of five-year covered bonds on Tuesday at a spread of 66 basis points over mid-swaps, a source away from the trade said.
The spread was within talk in the mid-swaps plus the 65 bps area, a source said.
The notes (Aaa/AAA/AAA) priced under Rule 144A.
Full terms for the sale were not available at press time.
Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill Lynch and Morgan Stanley & Co., Inc. were bookrunners.
The subsidiary of DnB NOR Bank ASA is based in Oslo.
| Issuer: | DnB NOR Boligkreditt AS
|
| Issue: | Covered bonds
|
| Amount: | $2 billion
|
| Maturity: | 2016
|
| Bookrunners: | Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill Lynch, Morgan Stanley & Co., Inc.
|
| Spread: | Mid-swaps plus 66 bps
|
| Distribution: | Rule 144A
|
| Trade date: | March 22
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Price talk: | Mid-swaps plus 65 bps area
|
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