Kommunalbanken offers $500 million notes due 2023 at mid-swaps flat

By Marisa Wong and Cristal Cody

Los Angeles, June 15 – Kommunalbanken AS launched a $500 million offering of notes due July 21, 2023 at mid-swaps plus zero basis points, according to a market source.

Initial price talk was in the mid-swaps plus 2 bps area.

BofA Securities Inc., BMO Capital Markets Corp. and Morgan Stanley & Co. LLC are the bookrunners.

Oslo-based Kommunalbanken provides funding to municipalities.

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