By Andrea Heisinger
New York, Jan. 22 - Norway's Kommunalbanken AS was in Tuesday's market with a $200 million addition to its floating-rate notes due Jan. 26, 2015, a market source said.
The notes (Aaa/AAA/) have a coupon of Libor plus 2 basis points and were sold at 100.002 to yield Libor plus 2 bps.
Total issuance is $800 million, the source said.
Bookrunners were Bank of America Merrill Lynch, BNP Paribas Securities Corp. and J.P. Morgan Securities LLC.
The bank provides low-cost funding to municipalities and is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Issue: | Floating-rate notes
|
| Amount: | $200 million add-on
|
| Maturity: | Jan. 26, 2015
|
| Bookrunners: | Bank of America Merrill Lynch, BNP Paribas Securities Corp., J.P. Morgan Securities LLC
|
| Coupon: | Libor plus 2 bps
|
| Price: | 100.002
|
| Yield: | Libor plus 2 bps
|
| Trade date: | Jan. 22
|
| Settlement date: | Jan. 29
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Total issuance: | $800 million
|
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