By Cristal Cody
Tupelo, Miss., May 3 – Kommunalbanken AS priced a $500 million reopening of its senior floating-rate notes due June 16, 2020 at par to yield Libor plus 5 basis points on Wednesday, according to a market source.
The notes were initially talked to price in the Libor plus 6 bps area.
Barclays, Daiwa Capital Markets Europe Ltd. and Toronto-Dominion Bank were the stabilizing managers for the notes, which are expected to have a stabilization period from May 3 through June 9.
The government-funded lender to municipalities is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Amount: | $500 million reopening
|
| Description: | Senior floating-rate notes
|
| Maturity: | June 16, 2020
|
| Bookrunners: | Barclays, Daiwa Capital Markets Europe Ltd. and Toronto-Dominion Bank
|
| Coupon: | Libor plus 5 bps
|
| Price: | Par
|
| Yield: | Libor plus 5 bps
|
| Trade date: | May 3
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | Treasuries plus 6 bps area
|
| Total outstanding: | $1.8 billion
|
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