By Andrea Heisinger
New York, Oct. 4 - Norway's Kommunalbanken AS has reopened its issue of floating-rate notes due on March 27, 2017 to add $250 million, an informed source said on Thursday.
The notes (Aaa/AAA/) were priced at 100.947 with a coupon of Libor plus 38 basis points to yield Libor plus 17 bps. There is no call option.
Total issuance is now $1.45 billion.
Bookrunners were Credit Suisse Securities (USA) LLC, Goldman Sachs International and HSBC Securities (USA) Inc.
The bank provides low-cost funding to municipalities and is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Issue: | Floating-rate notes
|
| Amount: | $250 million, reopened
|
| Maturity: | March 27, 2017
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, Goldman Sachs International, HSBC Securities (USA) Inc.
|
| Coupon: | Libor plus 38 bps
|
| Price: | 100.947
|
| Yield: | Libor plus 17 bps
|
| Call: | Non-callable
|
| Trade date: | Oct. 4
|
| Settlement date: | Oct. 12
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Total issuance: | $1.45 billion, including $1.2 billion previously sold
|
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