By Cristal Cody
Tupelo, Miss., May 16 – Kommuninvest I Sverige AB (Aaa/AAA) priced a $500 million offering of 1.875% four-year green bonds in a Rule 144A and Regulation S deal on Tuesday at mid-swaps plus 10 basis points, or a Treasuries plus 41.45 bps spread, according to a market source.
The notes due June 1, 2021 were initially talked to price in the mid-swaps plus low teens bps area.
Credit Agricole CIB, HSBC and JPMorgan were the lead managers.
The company held global investor calls on Monday.
Kommuninvest is an Orebro-based company that offers funding to municipalities of Sweden.
| Issuer: | Kommuninvest I Sverige AB
|
| Amount: | $500 million
|
| Description: | Green bonds
|
| Maturity: | June 1, 2021
|
| Bookrunners: | Credit Agricole CIB, HSBC and JPMorgan
|
| Coupon: | 1.875%
|
| Spread: | Mid-swaps plus 10 bps, or Treasuries plus 41.45 bps
|
| Trade date: | May 16
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Distribution: | Rule 144A, Regulation S
|
| Price guidance: | Mid-swaps plus low teens bps area
|
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