By Marisa Wong and Cristal Cody
Los Angeles, Oct. 5 – Kommuninvest I Sverige AB priced $1.25 billion of 5.125% notes due May 12, 2026 on Wednesday, according to a notice and details from a market source.
The notes priced at 99.936 to yield 5.149%, or SOFR mid-swaps plus 31 basis points, or Treasuries plus 22.7 bps, according to a market source.
Guidance was tightened 1 bp to the SOFR mid-swaps plus 33 bps area. Initial price talk was in the SOFR mid-swaps plus 34 bps area, as previously reported.
Final book orders totaled $3.75 billion from more than 100 investors, according to the market source.
The notes are guaranteed by regions and municipalities of Sweden, according to the notice.
Citi, Credit Agricole CIB, J.P. Morgan SE and Nordea are the bookrunners for the Rule 144A and Regulation S deal.
The offering will settle on Oct. 11.
Kommuninvest offers funding to municipalities in Sweden. The company is based in Orebro, Sweden.
| Issuer: | Kommuninvest I Sverige AB
|
| Guarantors: | Regions and municipalities of Sweden
|
| Amount: | $1.25 billion
|
| Issue: | Notes
|
| Maturity: | May 12, 2026
|
| Bookrunners: | Citi, Credit Agricole CIB, J.P. Morgan SE and Nordea
|
| Coupon: | 5.125%
|
| Price: | 99.936
|
| Yield: | 5.149%
|
| Spread: | SOFR mid-swaps plus 31 bps, or Treasuries plus 22.7 bps
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 11
|
| Distribution: | Rule 144A and Regulation S deal
|
| Price guidance: | SOFR mid-swaps plus 33 bps area, tightened from initial price talk of SOFR mid-swaps plus 34 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
