By Cristal Cody
Chicago, Feb. 1 – Kommuninvest I Sverige AB priced a $1 billion offer of 1.375% notes due May 8, 2024 (Aaa/AAA) on Tuesday, according to market sources.
Pricing on the spread came at SOFR mid-swaps plus 15 basis points, a touch lighter than guidance in the mid-swaps plus 16 bps area, or alternatively at Treasuries plus 20.3 bps.
The first coupon will be paid on Nov. 8.
The size of the offer was set with an upsize not a possibility.
Initial interest was larger than the offer size with $1 billion of interest, including $150 million from the joint lead managers.
BNP Paribas, JPMorgan Securities SE, Nomura and Nordea are listed as bookrunners for the Rule 144A and Regulation S deal.
Listing will be on the Luxembourg Stock Exchange.
The issuer offers funding to municipalities in Sweden.
| Issuer: | Kommuninvest I Sverige AB
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| Amount: | $1 billion
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| Issue: | Notes
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| Maturity: | May 8, 2024
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| Bookrunners: | BNP Paribas, JPMorgan Securities SE, Nomura and Nordea
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| Coupon: | 1.375%
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| Price: | 99.97
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| Spread: | SOFR mid-swaps plus 15 bps, or Treasuries plus 20.3 bps
|
| Trade date: | Feb. 1
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| Ratings: | Moody’s: Aaa
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| S&P: AAA
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | SOFR mid-swaps plus 16 bps area
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