KommuneKredit holds two-day switch and tender for two note series

By Susanna Moon

Chicago, June 5 – KommuneKredit said it is tendering for its $1 billion of 1.25% notes due Aug. 27, 2018 and $1 billion of 1.5% notes due Jan. 15, 2019 via an issue of new notes.

The purchase price for each $1,000 principal amount will be $998.40 for the 1.25% notes and $995 for the 1.5% notes.

The submission period runs from June 5 until June 6 and settlement will follow on June 11.

The maximum purchase amount in the tender offer will be determined by the issuer, according to an announcement.

KommuneKredit plans to price new dollar-denominated fixed-rate notes due 2021 on Wednesday, with proceeds to be used to fund the tender.

The joint lead managers and dealer managers for the tender are Deutsche Bank AG, London Branch (+44 207 547 6885), Merrill Lynch International (+44 20 7996 5420 or DG.LM_EMEA@baml.com), Scotiabank Europe plc (+44 20 7826 5932 or gtlondcm@scotiabank.com) and Toronto-Dominion Bank (+44 0 20 7628 2262 or TMG@tdsecurities.com).

KommuneKredit offers funding and leasing services to municipalities and is based in Copenhagen.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.