By Cristal Cody
Tupelo, Miss., April 25 – Kommunalbanken AS (Aaa/AAA) priced $1 billion of 2.875% notes due June 14, 2021 on Wednesday at a spread of mid-swaps plus 4 basis points, or Treasuries plus 25.1 bps, according to a market source.
The notes were initially talked to price in the mid-swaps plus 5 bps area.
BNP Paribas Securities Corp., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. were the lead managers of the Rule 144A and Regulation S offering.
The deal had a final book size of more than $1.65 billion.
The government-funded lender to municipalities is based in Oslo.
| Issuer: | Kommunalbanken AS
|
| Amount: | $1 billion
|
| Description: | Notes
|
| Maturity: | June 14, 2021
|
| Bookrunners: | BNP Paribas Securities Corp., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
|
| Coupon: | 2.875%
|
| Spread: | Mid-swaps plus 4 bps, or Treasuries plus 25.1 bps
|
| Trade date: | April 25
|
| Settlement date: | May 2
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-swaps plus 5 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
