By Devika Patel
Knoxville, Tenn., March 8 – Kommunalbanken AS (Aaa/AAA) offered further details about a $500 million add-on to its senior floating-rate notes due March 12, 2021 that priced at 100.002 with a coupon of Libor plus 4 basis points on Wednesday, lifting the size of the issue to $1.2 billion, according to a market source.
The notes will yield Libor plus 4 bps. The book order was more than $550 million.
BofA Merrill Lynch, BMO Capital Markets Corp. and BNP Paribas Securities Corp. were the bookrunners.
The company originally sold $700 million of the floaters on Jan. 30 with a coupon of Libor plus 4 bps. The total outstanding is now $1.2 billion.
The Helsinki, Finland-based credit institution provides funding for the public sector in Finland.
Issuer: | Kommunalbanken AS
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Amount: | $500 million reopening
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Description: | Floating-rate notes
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Maturity: | March 12, 2021
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Bookrunners: | BofA Merrill Lynch, BMO Capital Markets Corp. and BNP Paribas Securities Corp.
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Coupon: | Libor plus 4 bps
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Price: | 100.002
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Yield: | Libor plus 4 bps
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Trade date: | March 7
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Settlement date: | March 15
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Ratings: | Moody’s: Aaa
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| S&P: AAA
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Distribution: | Rule 144A and Regulation S
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Total outstanding: | $1.2 billion, including $700 million priced on Jan. 30 at Libor plus 4 bps
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