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by Chris Reich
Feb 25, 2026 10:37 AM ET
Kommunalbanken Norway (KBN), exp Aaa/AAA (s/s), owned 100% by Kingdom of Norway, $700m (upsized from US$500m) 144A/Reg S 5y sr unsec FRN due 3/4/31. DB (B&D)/NBF/RBC/Scotia joint leads. Coupon: FRN, Compounded SOFR+ [.]bps, Quarterly, Act/360. Convention: SOFR Index, where SOFR Index Start and SOFR Index End will be 5 days prior to Interest Period. Denoms: $200k x $2k. List Luxembourg Stock Exchange's Regulated Market. Pricing 2/25. Settle 3/4 (T+5). 144A ISIN: US50047JAV08.
IPTs: SOFR+34 area.
GUIDANCE: SOFR+34 area. IOIs in excess of $915m (incl $100m JLM).
UPDATE: spread set at SOFR+33. Books in excess of $1bn (incl $100m JLM).
UPSIZED/LAUNCHED: $700m 5y FRN at SOFR+33. Books closed in excess of $1.1bn (incl $100m JLM).
PRICED: $700m 3/4/31 FRN at SOFR+33, at 100.