New Issue: Kommunalbanken prices $1 billion 1.625% five-year notes at mid-swaps plus 9 bps area

By Aleesia Forni

Virginia Beach, Jan. 7 – Kommunalbanken AS priced a $1 billion offering of 1.625% five-year notes (Aaa/AAA/) at mid-swaps plus 9 basis points, a market source said.

Pricing was at 99.528.

The sale was done under Rule 144A and Regulation S.

The bookrunners were BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Nomura.

The government-funded lender to municipalities is based in Oslo.

Issuer:	Kommunalbanken AS
Amount:	$1 billion
Description:	Notes
Maturity:	Jan. 15, 2020
Bookrunners:	BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Nomura
Coupon:	1.625%
Price:	99.528
Spread:	Mid-swaps plus 9 bps
Trade date:	Jan. 7
Settlement date:	Jan. 15
Ratings:	Moody’s: Aaa
	Standard & Poor’s: AAA
Distribution:	Rule 144A, Regulation S
Price talk:	Mid-swaps plus 10 bps area

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