By Cristal Cody
Tupelo, Miss., March 21 – Kommunalbanken AS (Aaa/AAA) priced $1 billion of 2.5% notes due April 17, 2020 in a Rule 144A and Regulation S offering on Tuesday at a spread of mid-swaps flat, or Treasuries plus 29.9 basis points, according to a market source.
The notes were initially talked to price in the mid-swaps flat area.
BMO Capital Markets Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC were the lead managers.
The government-funded lender to municipalities is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Maturity: | April 17, 2020
|
| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC
|
| Coupon: | 2.5%
|
| Spread: | Mid-swaps flat, or Treasuries plus 29.9 bps
|
| Trade date: | March 20
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-swaps flat area
|
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