KBN launches November 2029 Kangaroo tap

On 15 January, Kommunalbanken Norway (KBN) (AAA/Aaa) launched a minimum A$50 million (US$34.5 million) increase to its November 2029 Kangaroo bond. The deal is being marketed at 52 basis points area over semi-quarterly swap, equivalent to 57.05 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to J.P. Morgan.