By Aleesia Forni
Virginia Beach, March 4 - Kommunalbanken AS reopened its issue of floating-rate notes due May 2, 2017 (Aaa/AAA/) on Tuesday to add $350 million to yield Libor plus 9 basis points, a market source said.
Pricing was in line with talk.
The notes priced at 100.101 and carry a coupon of Libor plus 12 bps.
Total issue size is now $850 million.
BNP Paribas Securities Corp., Goldman Sachs & Co. and Morgan Stanley & Co. LLC were the joint 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: | $350 million
|
| Maturity: | May 2, 2017
|
| Bookrunners: | BNP Paribas Securities Corp., Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Coupon: | Libor plus 12 bps
|
| Price: | 100.101
|
| Yield: | Libor plus 9 bps
|
| Trade date: | March 4
|
| Settlement date: | March 11
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Distribution: | Rule 144A, Regulation S
|
| Price talk: | Libor plus 9 bps area
|
| Total amount: | $850 million
|
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