KommuneKredit issues 3-year benchmark with buyback option

Press release -

KommuneKredit issues 3-year benchmark with buyback option

On 4 June 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.

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KommuneKredit is an association, whose purpose is to provide lending to municipalities and regions and companies with a 100% municipal guarantee.

The association is the municipalities and regions own credit institution and exist solely for our clients.

Contacts

Jens Lundager

Jens Lundager

Press contact CEO +45 3369 7622

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KommuneKredit issues 3-year benchmark with buyback option
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KommuneKredit

KommuneKredit is a Danish special-purpose credit institution, providing funding for the local growth and green transition in municipalities and regions across Denmark.

KommuneKredit is an association with sustainability at its core and a strong ESG profile. Our member base consists of all Danish municipal and regional authorities. Our guarantee structure and safe business model have secured us a premium credit rating (AAA) (Aaa).

That is why we can offer municipalities and regions instant and uncomplicated access to financing of projects large or small and at the lowest possible cost. With equal opportunities and terms for all – across the entire country.

That is how it has been since 1899, when KommuneKredit first disbursed a loan. And that is the way it is today, as our dedicated employees advise on and arrange more than 2,000 loans every year.

When investors buy our bonds, we can disburse loans for purposes ranging from energy renovation of a local sports centre to the purchase of a new eco-friendly hybrid ferry, or the establishment of more sustainable district heating systems across the country.

For the benefit of ordinary citizens, for our local communities, and for an even greener future.

KommuneKredit
Kultorvet 16
DK-1175 Copenhagen K
Denmark
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