KBN prices new A$150 million 10.5-year Kangaroo bond

Tuesday, 16 January 2018

Issuer: Kommunalbanken Norway
Issuer rating: AAA/Aaa
Issue rating: as issuer
Pricing date: 16 January 2018
Settlement date: 24 January 2018
Maturity date: 24 July 2028
Lead managers: Daiwa Capital Markets, J.P. Morgan, TD Securities

Volume: A$150 million (US$119.5 million)
Total outstanding in the line: A$150 million
Coupon type: fixed
Coupon rate: 3.4%
Issue/re-offer price: 99.781%
Issue yield: 3.425%
Margin to swap: 60bp/s-q
Margin to ACGB: 65.75bp/May 2028