By Cristal Cody
Chicago, June 15 – Kommunalbanken AS sold a $500 million offering of 0.25% notes due July 21, 2023 at mid-swaps plus zero basis points, according to a market source.
The notes priced on top of launch talk and lower than initial price talk in the mid-swaps plus 2 bps area.
Alternatively, the notes priced with a Treasuries plus 8.68 bps spread.
BofA, BMO and Morgan Stanley are the bookrunners.
Oslo-based Kommunalbanken provides funding to municipalities.
| Issuer: | Kommunalbanken AS
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| Issue: | Notes
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| Amount: | $500 million
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| Maturity: | July 21, 2023
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| Bookrunners: | BofA Securities, BMO and Morgan Stanley
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| Coupon: | 0.25%
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| Spread: | Mid-swaps flat, or Treasuries plus 8.68 bps
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| Trade date: | June 15
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| Price talk: | Initial price talk of mid-swaps plus 2 bps area; launched at mid-swaps flat
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