By Marisa Wong and Cristal Cody
Los Angeles, June 8 – Kommuninvest I Sverige AB sold $1.25 billion of 2.875% notes due July 3, 2024 on Tuesday, according to a market source.
The benchmark offering priced at 99.784 to yield 2.985%, or a spread of 17 basis points over SOFR mid-swaps, or 28.5 bps to Treasuries.
Demand totaled more than $3.5 billion, and the deal tightened 3 bps from initial price talk and 2 bps from guidance, the source said.
Barclays, BNP Paribas, Danske Bank and GS Bank Europe SE were lead bookrunners for the Rule 144A and Regulation S transaction.
The offering settles on June 14.
Kommuninvest offers funding to municipalities in Sweden.
| Issuer: | Kommuninvest I Sverige AB
|
| Amount: | $1.25 billion
|
| Issue: | Notes
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| Maturity: | July 3, 2024
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| Bookrunners: | Barclays, BNP Paribas, Danske Bank and GS Bank Europe SE
|
| Coupon: | 2.875%
|
| Price: | 99.784
|
| Yield: | 2.985%
|
| Spread: | SOFR mid-swaps plus 17 bps, or Treasuries plus 28.5 bps
|
| Trade date: | June 7
|
| Settlement date: | June 14
|
| Distribution: | Rule 144A and Regulation S
|
| Initial price talk: | SOFR mid-swaps plus 20 bps area
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