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Kommunalbanken talks $300 million tap of floaters due 2021 at Libor plus 12 bps area
By Cristal Cody
Tupelo, Miss., July 18 – Kommunalbanken AS (Aaa/AAA) plans to price a $300 million add-on to its floating-rate notes due Sept. 8, 2021 on Wednesday in a Rule 144A and Regulation S deal, according to a market source.
The notes were initially talked to price in the Libor plus 12 basis points area.
BMO Capital Markets Corp., Morgan Stanley & Co. LLC and Nomura are the lead managers.
Kommunalbanken originally sold $300 million of the notes on Aug. 29, 2014 at par to yield Libor plus 13 bps and priced a $200 million reopening on June 1, 2016 with a yield of Libor plus 35 bps. The total outstanding currently is $500 million.
The government-funded lender to municipalities is based in Oslo.
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