New Issue: Kommunalbanken prices $1.5 billion of 2.5% notes due 2023

By Cristal Cody

Tupelo, Miss., Jan. 4 – Kommunalbanken AS (Aaa/AAA) priced $1.5 billion of 2.5% five-year notes on Thursday at a spread of Treasuries plus 24.1 basis points, according to a market source.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Nomura Securities International, Inc. and RBC Capital Markets, LLC were the lead managers of the Rule 144A and Regulation S offering.

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

Issuer:	Kommunalbanken AS
Amount:	$1.5 billion
Description:	Notes
Maturity:	Jan. 11, 2023
Bookrunners:	BMO Capital Markets Corp., Morgan Stanley & Co. LLC, Nomura Securities International, Inc. and RBC Capital Markets LLC
Coupon:	2.5%
Spread:	Treasuries plus 24.1 bps
Trade date:	Jan. 4
Ratings:	Moody’s: Aaa
	S&P: AAA
Distribution:	Rule 144A, Regulation S

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