By Aleesia Forni
Virginia Beach, Feb. 12 - Kommunalbanken AS reopened its issue of floating-rate notes due Feb. 20, 2018 (Aaa/AAA/) to add $500 million to yield Libor plus 15 basis points, a market source said on Wednesday.
The issue was upsized from $300 million.
The coupon is Libor plus 18 basis points.
Total issuance will be $1.65 billion, including $1.15 million sold in three previous offerings.
Credit Agricole, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. were the bookrunners for the Rule 144A and Regulation S deal.
The government-funded lender to municipalities is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Issue: | Notes, reopened
|
| Amount: | $500 million, upsized from $300 million
|
| Maturity: | Feb. 20, 2018
|
| Bookrunner: | Credit Agricole, Citigroup Global Markets Inc., Deutsche Bank Securities Inc.
|
| Coupon: | Libor plus 18 bps
|
| Yield: | Libor plus 15 bps
|
| Trade date: | Feb. 12
|
| Settlement date: | Feb. 17
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Total issuance: | $1.65 billion, including $1.15 million sold in three previous issues
|
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