Exeptional outcome in volatile market
On Thursday 5th March, Kommunalbanken (KBN) priced a new USD1.25bn 5-year benchmark at the lowest ever coupon on a KBN 5-Year USD benchmark.
The transaction enjoyed a broad distribution across both geographies and investor types with over 85 investors participating; a clear testament to the strong following that KBN enjoys across the global investor base. Central Bank and Official Institutions dominated demand, taking over 70% of the final allocations. In terms of geographical distribution, EMEA accounted for the largest region with 53%
“We are extremely satisfied with timing and outcome of this trade, given an almost unprecedented volatile market backdrop this is one of the best executed KBN benchmark trades ever, a big thank you to everyone involved”, says Thomas Møller, Head of Funding & IR at KBN.