Commentary & Deal Flow

Guidance: 5yr: SOFR MS+35a - IOIs in excess of $2.7bn (inc. 150m JLM interest)

IPTs: 5yr: SOFR MS+37a

• Issuer: Kommunalbanken Norway (KBN) (Owned 100% by Kingdom of Norway)
• Issuer Ratings: Aaa/AAA (Moody's/S&P)
• Format: Reg S/144A
• Size: US$ Benchmark
• Maturity: 03-Jun-31
• Settlement: 03-Jun-26 (T+5)
• Coupon: Fixed S/A, 30/360
• Guidance: SOFR MS SA 30/360 +35bps area
• Governing Law: English
• Listing: Luxembourg Stock Exchange's Regulated Market
• Denominations: US$200k + US$2k
• Docs: Issuer's EMTN Programme
• Target Market: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professionals only (all distribution channels).
• Leads: Citi/JPM/Nomura/Scotia
• Fees: A fee will be paid in connection to the transaction
• Timing: Books open. Today's business.