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Kommuninvest launches K2505, a new bond in its Swedish Benchmark Programme

News   •   Jun 19, 2018 09:50 GMT

​Kommuninvest will shortly, and market conditions permitting, issue a new bond under its Swedish Benchmark Programme. The bond, labelled K2505, will mature on 12 May 2025. Kommuninvest targets benchmark status for K2505, equivalent to SEK 3 billion outstanding on the first day of trading. Final terms are to be established shortly.

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Kommuninvest issues its largest USD benchmark to date

Press Releases   •   Jun 13, 2018 08:42 GMT

​Kommuninvest , the Swedish local government debt office, has printed its largest USD benchmark transaction to date. On Tuesday, Kommuninvest issued a long 2-year USD 2.5 billion benchmark transaction. The issue was motivated by stronger than expected growth in Kommuninvest’s lending portfolio.

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Patrick Nimander appointed new CFO at Kommuninvest

Press Releases   •   Jun 11, 2018 07:08 GMT

​Patrick Nimander, 47, has been appointed new CFO for Kommuninvest in Sweden AB. Patrick joins from EKN (Swedish Export Credits Guarantee Board), where he has been the CFO since 2010. Patrick succeeds Johanna Larsson, who has been appointed Finance Director at Örebro Municipality.

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S&P publishes new rating methodology for non-U.S. public sector funding agencies: Kommuninvest’s rating under criteria observation

News   •   May 25, 2018 07:27 GMT

​S&P Global Ratings (S&P) has, on 22 May 2018, announced a new methodology for rating non-U.S. public-sector funding agencies. As a result of the new methodology, S&P has placed ratings of ten public-sector funding agencies, including Kommuninvest i Sverige AB, under criteria observation ("UCO"). S&P expects to review the ratings identified as UCO within six months.

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Investors welcome Kommuninvest’s second USD benchmark for the year

Press Releases   •   May 18, 2018 14:22 GMT

Kommuninvest i Sverige AB, rated AAA/Aaa, issued its second USD benchmark transaction for the year on Wednesday. The Swedish local government debt office printed USD 1 billion in 3-year Reg-S/144a notes. The notes, which mature on 1 March 2021, pays a semi-annual coupon of 2.875% and was issued at a spread of plus 20.7bps versus 3-year US Treasuries, equivalent to mid-swaps + 6bps.

Books were closed within 1.5 hours of opening, with final orders in excess of USD 2 billion and participation from more than 50 accounts, primarily central banks & official institutions as well as bank treasuries.

Tobias Landström, Deputy Head of Debt Management at Kommuninvest, commented:

- We are very pleased with the outcome of this transaction, and particularly with the final order book exceeding 50 accounts including a large number of central banks and bank treasuries. We appreciate the strong support for Kommuninvest bonds from core SSA buyers from across the globe

Kommuninvest continues to grow as a result of a larger market share and the increased welfare investments by Swedish municipalities and county councils. Of the SEK 600 bn in municipal sector external loan debt, half is today financed via Kommuninvest. Kommuninvest forecasts a total of SEK 85-100 billion in long-term funding in 2018, up from SEK 76 billion in 2017.

For further information, see separate Press Points.

Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 288 municipalities and county councils/regions are members of this voluntary cooperation, out of a total of 310 Swedish local governments. With total assets of around SEK 360 billion (USD ~41 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.

​Kommuninvest i Sverige AB, rated AAA/Aaa, issued its second USD benchmark transaction for the year on Wednesday. The Swedish local government debt office printed USD 1 billion in 3-year Reg-S/144a notes. The notes, which mature on 1 March 2021, pays a semi-annual coupon of 2.875% and was issued at a spread of plus 20.7bps versus 3-year US Treasuries, equivalent to mid-swaps + 6bps.

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Kommuninvest achieves lower funding cost with green bond

Press Releases   •   Apr 24, 2018 13:30 GMT

Kommuninvest has issued its fourth green bond, and its second in Swedish krona. On Monday, the Swedish local government debt office issued a 3.6 year SEK 3 billion green bond in an oversubscribed transaction that enabled the issuer to price it at 3 b.p. inside its regular Swedish krona benchmark curve. The transaction was the second largest green bond in Swedish krona this year.

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Green investor presentation, April 18-19 2018

News   •   Apr 18, 2018 08:00 GMT

Kommuninvest conducts green investor presentations on April 18-19. The presentation covers Kommuninvest’s recently published Green Bonds Impact Report and updated Green Bonds framework, ahead of a potential SEK denominated Green Bond transaction, subject to market conditions. The presentation is available for download here.

Kommuninvest conducts green investor presentations on April 18-19. The presentation covers Kommuninvest’s recently published Green Bonds Impact Report and updated Green Bonds framework, ahead of a potential SEK denominated Green Bond transaction, subject to market conditions. The presentation is available for download here.

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Kommuninvest green bonds help to avoid 515,000 tonnes of CO2

Press Releases   •   Apr 13, 2018 08:00 GMT

​Some 150 green investment projects financed by Kommuninvest green bonds contribute to reduce or avoid nearly 515,000 tonnes in annual carbon dioxide emissions, according to the issuer’s second green bonds impact report. This corresponds to emissions of approximately 350,000 cars with an annual mileage of 12,000 kilometres.

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Kommuninvest updates its Green Bonds framework

Press Releases   •   Mar 28, 2018 08:57 GMT

​Kommuninvest, the Swedish local government debt office, has published an updated framework regarding Green Bonds issuance and green lending. The updated framework has been adopted by the Kommuninvest Green Bonds Environmental Committee, which mainly consist of independent environmental and energy specialists from the municipal sector.

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Kommuninvest issues USD 600 million bond

Press Releases   •   Mar 07, 2018 09:10 GMT

​Kommuninvest i Sverige AB, rated AAA/Aaa, has successfully issued a long 2-year USD 600 million RegS/144A transaction. The notes, which mature on the 1 June 2020, pay a semi-annual coupon of 2.50 percent and was issued at a spread of mid-swaps flat, which equated to a spread of some 31bps over US Treasury 2.25% due 29 February 2020.

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About Kommuninvest

We finance welfare

Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 288 municipalities and county councils/regions are members of this voluntary cooperation, out of a total of 310 Swedish local governments. With total assets of around SEK 360 billion (USD ~41 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.

Address

  • Kommuninvest
  • Drottninggatan 2
  • 70142 Örebro
  • Sverige

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