New Issue: Kommunalbanken sells $1.25 billion 0.875% five-year notes at mid-swaps plus 15 bps

By Cristal Cody

Tupelo, Miss., March 6 – Kommunalbanken AS (Aaa/AAA) priced $1.25 billion of 0.875% five-year global notes in a Rule 144A and Regulation S offering on Thursday at mid-swaps plus 15 basis points, according to a notice and a market source.

The notes were initially talked to price at the mid-swaps plus 17 bps area.

Nomura International, plc, London Branch, J.P. Morgan Securities, LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC were the lead managers.

The government-funded lender to municipalities is based in Oslo.

Issuer:	Kommunalbanken AS
Amount:	$1.25 billion
Description:	Global notes
Maturity:	March 12, 2025
Bookrunners:	Nomura International, plc, London Branch, J.P. Morgan Securities, LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC
Coupon:	0.875%
Spread:	Mid-swaps plus 15 bps
Trade date:	March 5
Settlement date:	April 11
Ratings:	Moody’s: Aaa
	S&P: AAA
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 17 bps area

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