By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Nov. 21 – Kommuninvest I Sverige AB priced $500 million of 4.625% green notes due Sept. 29, 2028 at 100.002 to yield 4.626%, according to a market source.
The notes priced at 47 basis points above mid-swaps, or at Treasuries plus 20.8 bps. Guidance was in the SOFR mid-swaps plus 48 bps area. Initial talk was in the SOFR mid-swaps plus 49 bps area.
The order book was 3.5 times oversubscribed.
BNP Paribas, Danske Bank and Goldman Sachs are the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for projects undertaken by Swedish local governments that promote the transition to a low-carbon and climate-resilient society.
Kommuninvest offers funding to municipalities in Sweden.
| Issuer: | Kommuninvest I Sverige AB
|
| Amount: | $500 million
|
| Issue: | Green notes
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| Maturity: | Sept. 29, 2028
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| Bookrunners: | BNP Paribas, Danske Bank and Goldman Sachs
|
| Coupon: | 4.625%
|
| Price: | 100.002
|
| Yield: | 4.626%
|
| Spread: | SOFR mid-swaps plus 47 bps, or Treasuries plus 20.8 bps
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 29
|
| Distribution: | Rule 144A and Regulation S
|
| Talk: | SOFR mid-swaps plus 48 bps; tightened from initial talk of SOFR mid-swaps plus 49 bps area
|
| ISIN: | XS2725836097
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