KommuneKredit issues 3 year benchmark with buyback option

On 4 May 2018 KommuneKredit announced a new fixed rate USD benchmark maturing on 15 November 2021. In addition, KommuneKredit offered to buy back two existing bonds with maturities on 27 August 2018 and 15 January 2019 respectively. The 4 banks, Toronto Dominion, Deutsche Bank, Scotiabank and Bank of Amerika Merrill Lynch, were mandated as joint lead managers on the new bond deal as well as the buybacks of the two existing notes. The final bond issue was offered at 3m USD libor plus 6 basispoints or 30.6 basispoints over US Treasuries. The orders came from about 50 investors with a total order amount in excess of USD 2.1bn. Additionally, the buy back amount totaled USD 255.487m across two tranches.


See the press release for details of the distribution on geography and investor type.

Read it here.