By Cristal Cody
Chicago, March 23 – Kommunalbanken Norway sold $1.25 billion of 2.5% notes due 2024 on Tuesday, according to a market source.
The notes priced out at SOFR mid-swaps plus 26 basis points versus talk in the SOFR mid-swaps plus 27 bps area. Alternatively, the spread came at Treasuries plus 32.1 bps.
Credit Agricole CIB, Morgan Stanley, Nomura and Scotia Bank are listed as bookrunners on the Rule 144A and Regulation S deal.
The local government funding agency is based in Oslo.
Issuer: | Kommunalbanken Norway
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Amount: | $1.25 billion
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Issue: | Notes
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Maturity: | Sept. 27, 2024
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Bookrunners: | Credit Agricole CIB, Morgan Stanley, Nomura and Scotia Bank
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Coupon: | 2.5%
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Spread: | SOFR mid-swaps plus 26 bps, or Treasuries plus 32.1 bps
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Trade date: | March 22
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Distribution: | Rule 144A and Regulation S
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Price talk: | Mid-swaps plus 27 bps area
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