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Commentary & Deal Flow

Related Parents

Kommunalbanken AS (KBN)

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Kommunalbanken AS (KBN)

by Jp Albin

May 27, 2026 5:02 AM ET

UPDATE: KBN US$ bmk 5yr Sr Unsec; Spread set at SOFR MS+34bp

IGC European Market: Deal Flow - SSAIGC US Market: Deal Flow - SSA

Issuer	Term	Maturity	Size	Ranking	Type	IPT	Guidance	Spread Set
KBN	5yr	03-Jun-31	bmk	Sr Unsec	Fixed	SOFR MS+37a	SOFR MS+35a	SOFR MS+34

Spread set at: 5yr: SOFR MS+34bp - Books in excess of $3.3bn (inc 150m JLM)
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
Spread Set: SOFR MS+34bps
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.
Books Subject: EMEA/Asia books to close at 10:30 LDN / Americas books to close at 08:30 ET