New Issue: Kommunalbanken prices $1.5 billion 1.125% 10-year notes at mid-swaps plus 38 bps

By Cristal Cody

Tupelo, Miss., June 10 – Kommunalbanken AS (Aaa/AAA) priced a $1.5 billion offering of 1.125% 10-year global notes on Tuesday at mid-swaps plus 38 basis points, or a spread of Treasuries plus 36.38 bps, according to a market source.

The notes were initially talked to price at the mid-swaps plus 40 bps area.

BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were the lead managers of the Rule 144A and Regulation S offering.

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

Issuer:	Kommunalbanken AS
Amount:	$1.5 billion
Description:	Global notes
Maturity:	June 14, 2030
Bookrunners:	BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC
Coupon:	1.125%
Spread:	Mid-swaps plus 38 bps, or Treasuries plus 36.38 bps
Trade date:	June 9
Ratings:	Moody’s: Aaa
	S&P: AAA
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 40 bps area

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