LONDON - Kommunalbanken Norway (KBN), the Norwegian state-owned financial institution, has concluded a post-stabilization period without any market intervention, as announced by J.P. Morgan SE, the stabilization manager. The period followed the initial pre-stabilization announcement on January 7, 2025, where potential market stabilization activities were disclosed in relation to KBN's recent securities offering.
The securities in question consist of USD 1.5 billion in 5-year fixed-rate notes with a coupon of 4.500%, set to mature on January 15, 2030. These notes have been listed on the Luxembourg Stock Exchange's Regulated Market. Despite the availability of stabilization measures, which are actions that underwriters can take to support the price of a security after its initial offering, J.P. Morgan SE has indicated that no such actions were required or undertaken.
The stabilization process was managed by J.P. Morgan SE, serving as the Stabilization Coordinator, with Daiwa, Nomura, and RBC acting as additional Stabilization Managers. The offer price for the notes was set at 99.474.
KBN, backed by a guarantee from its sole owner, the Kingdom (TADAWUL:4280) of Norway, is a key financial service provider for local governments in Norway, offering loans for public welfare projects and infrastructure development.
This announcement serves purely for informational purposes and does not represent an invitation or offer to purchase or sell any securities of KBN in any jurisdiction. The information is based on a press release statement and is provided by RNS, the news service of the London Stock Exchange (LON:LSEG), which is authorized by the Financial Conduct Authority as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.