New Issue: KommuneKredit sells $1 billion 1% three-year notes to yield mid-swaps plus 35 bps

By Andrea Heisinger

New York, April 25 - Denmark's KommuneKredit sold $1 billion of 1% three-year notes on Wednesday to yield mid-swaps plus 35 basis points, or Treasuries plus 64.25 bps, a market source said.

The notes (Aaa/AAA/) were sold at 99.83 and are non-callable.

Bookrunners were BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc.

The issuer provides funding and leasing services for municipalities in the country and is based in Copenhagen.

Issuer:	KommuneKredit
Issue:	Notes
Amount:	$1 billion
Maturity:	May 5, 2015
Bookrunners:	BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc.
Coupon:	1%
Price:	99.83
Spread:	Mid-swaps plus 35 bps, Treasuries plus 64.25 bps
Call:	Non-callable
Trade date:	April 25
Settlement date:	May 2
Ratings:	Moody's: Aaa
	Standard & Poor's: AAA

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