By Marisa Wong and Cristal Cody
Los Angeles, Jan. 18 – Kommunalbanken Norway priced $1.5 billion of 4.25% five-year notes on Wednesday at SOFR mid-swaps plus 50 basis points, or Treasuries plus 23.7 bps, according to a market source.
The deal was initially talked in the SOFR mid-swaps plus 53 bps area. Later, guidance tightened to the SOFR mid-swaps plus 51 bps area.
BofA, Daiwa, JPMorgan and RBC are the bookrunners.
The Oslo-based local government funding agency is fully owned by the Kingdom of Norway.
| Issuer: | Kommunalbanken Norway
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| Amount: | $1.5 billion
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| Issue: | Notes
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| Maturity: | Jan. 24, 2029
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| Bookrunners: | BofA, Daiwa, JPMorgan and RBC
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| Coupon: | 4.25%
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| Spread: | SOFR mid-swaps plus 50 bps, or Treasuries plus 23.7 bps
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| Pricing date: | Jan. 17
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| Talk: | SOFR mid-swaps plus 53 bps area, tightening to SOFR mid-swaps plus 51 bps area
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