New Issue: Kommunalbanken sells $1.25 billion 2.75% notes due 2024 at mid-swaps plus 15 bps

By Cristal Cody

Tupelo, Miss., Jan. 29 – Kommunalbanken AS (Aaa/AAA) priced $1.25 billion of 2.75% five-year notes on Tuesday at mid-swaps plus 15 basis points, or a Treasuries plus 23 bps spread, according to a market source.

The notes were initially talked to print in the mid-swaps plus 17 bps area.

BofA Merrill Lynch., Nomura Securities International, Inc., RBC Capital Markets, LLC and TD Securities (USA) 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:	$1.25 billion
Description:	Notes
Maturity:	Feb. 5, 2024
Bookrunners:	BofA Merrill Lynch., Nomura Securities International, Inc., RBC Capital Markets, LLC and TD Securities (USA) LLC
Coupon:	2.75%
Spread:	Mid-swaps plus 15 bps, or Treasuries plus 23 bps
Trade date:	Jan. 29
Ratings:	Moody’s: Aaa
	S&P: AAA
Distribution:	Rule 144A and Regulation S
Price talk:	Mid-swaps plus 17 bps area

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