By Andrea Heisinger
New York, Sept. 5 - Norway's Kommunalbanken AS reopened an issue of floating-rate notes due in March 2017 on Wednesday to add $300 million, a market source said.
The notes (Aaa/AAA/) were priced at 100.374 with a coupon of Libor plus 38 basis points. The paper is non-callable.
Total issuance is $1.2 billion.
Bookrunners were Bank of America Merrill Lynch, Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC.
The bank provides low-cost funding to municipalities and is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Issue: | Floating-rate notes
|
| Amount: | $300 million, reopened
|
| Maturity: | March 27, 2017
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Morgan Stanley & Co. LLC
|
| Coupon: | Libor plus 38 bps
|
| Price: | 100.374
|
| Call: | Non-callable
|
| Trade date: | Sept. 5
|
| Settlement date: | Sept. 11
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Total issuance: | $1.2 billion
|
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