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Commentary & Deal Flow

LAUNCHED: Kommunalbanken AS £250m Oct-30 Sr Unsec; SONIA MS+39bp

IGC European Market: Deal Flow - GeneralIGC European Market: Deal Flow - SSA


Issuer

Term

Maturity

Size

Ranking

Type

Guidance

Spread Set

Kommunalbanken AS

Oct-30

22-Oct-30

£250m

Sr Unsec

Fixed

SONIA MS+39a

SONIA MS+39



Launched: Oct-30: £250m @ SONIA MS+39bp - Books to close at 12.45 UKT

Guidance: Oct-30: SONIA MS+39a

  • Issuer: Kommunalbanken AS (KBN) (Owned 100% by Kingdom of Norway)
  • Ratings: Aaa/AAA (Moody's/S&P) (both stable)
  • Format: Reg S Bearer, TEFRA C
  • Size: £250m
  • ISIN: XS3349847882
  • Settlement: 20-Apr-26
  • Maturity Date: 22-Oct-30
  • Coupon: Fixed, annual, ACT/ACT, short first
  • Spread: SONIA MS +39 bps
  • Denominations: £100,000 + £1,000
  • Governing Law: English
  • Documentation: Issuer's EMTN Programme
  • Listing: Luxembourg
  • Settlement: Euroclear/Clearstream
  • Lead Managers: Barclays/BMO/Citi (B&D/DM)
  • Target Market: Professional & Eligible Counterparties (all distribution channels, MiFID II/UK MiFIR product governance.
  • Timing: Books open, today's business
  • Books Subject: Books to close at 12.45 UKT