KommuneKredit to hold switch, tender for 1.125% notes via new issue

By Susanna Moon

Chicago, April 16 – KommuneKredit said it will hold switch and tender offers on Tuesday for its £500 million of 1.125% fixed-rate notes due December 2018.

KommuneKredit also plans to offer new sterling-denominated fixed-rate notes due 2022 for cash in denominations of £100,000 and in integrals of £1,000 after that, with settlement set for April 26, according to a company announcement.

The tender offer price will be £1,003 per £1,000 principal amount plus accrued interest up to but excluding the settlement date of April 19.

For preferred offers, holders may tender their notes until the bookbuilding for the new notes closes and for any non-preferred offers at the time falling after the deadline for preferred offers.

Noteholders whose notes are accepted for purchase in the switch and tender must book a trade ticket with the billing and delivery bank or with the dealer manager, the release noted.

The joint lead managers and dealer managers are Nomura International plc (+44 20 7103 6597 or liability.management@nomura.com), Royal Bank of Scotland plc (+44 20 7678 5282 or liability.management@natwestmarkets.com) and RBC Europe Ltd. (+44 20 7029 7063 or liability.management@rbccm.com).

KommuneKredit offers funding and leasing services to municipalities and is based in Copenhagen.

© 2015 Prospect News.
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