By Cristal Cody
Tupelo, Miss., Oct. 28 – Kommunalbanken Norway (Aaa/AAA) priced an upsized $750 million of 0.25% notes due Nov. 4, 2022 on Wednesday at mid-swaps plus 3 basis points, or a spread of Treasuries plus 11.3 bps, according to a market source.
The notes were initially talked to price in the mid-swaps plus 4 bps area.
The deal was upsized from $500 million.
HSBC Bank plc, NatWest Markets Securities Inc. and Nomura Securities International Inc. were bookrunners of the Rule 144A and Regulation S offering.
Oslo-based Kommunalbanken provides funding to municipalities.
| Issuer: | Kommunalbanken Norway
|
| Amount: | $750 million
|
| Description: | Notes
|
| Maturity: | Nov. 4, 2022
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| Bookrunners: | HSBC Bank plc, NatWest Markets Securities Inc. and Nomura Securities International Inc.
|
| Coupon: | 0.25%
|
| Spread: | Mid-swaps plus 3 bps, or Treasuries plus 11.3 bps
|
| Trade date: | Oct. 28
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Mid-swaps plus 4 bps area
|
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