Press release -
Kommuninvest issues 7-year bond in SEK
Kommuninvest has issued SEK 5 billion in a new 7.5-year bond for its Swedish Benchmark Bond programme. The transaction was closed within ten minutes and met good demand.
The new bond, labelled K2611, matures on November 12, 2026 and was issued at a yield of 0.715 percent, about 70 basis points over the corresponding Swedish government bond SGB 1059 and about 14 basis points above the reference mid-swaps rate.
Following the issue, Kommuninvest has nine outstanding bonds in the Swedish Benchmark Bond programme, maturing annually between 2020 and 2026. The total outstanding volume in the programme amounts to SEK 198 billion.
Kommuninvest's current forecast for long-term borrowing for 2019 is SEK 100-120 billion, with expectations of an outcome in the higher part of the interval. With the issue of K2611, a total of SEK 48 billion has been funded to date, of which SEK 34 billion in Swedish krona and SEK 3.5 billion in green bonds.
For further information
Christian Ragnartz, Head of Debt Management, tel: +46 706 07 38 34, e-mail: christian.ragnartz@kommuninvest.se
Pelle Ekestubbe, Senior Portfolio Manager, tel: +46 (0)10-470 88 62, e-mail: pelle.ekestubbe@kommuninvest.se
Björn Bergstrand, Head of Media Relations, tel: +46 (0)10 470 87 31 alt. +46 70 886 94 76, e-mail: bjorn.bergstrand@kommuninvest.se
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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, 289 municipalities and counties/regions are members of this voluntary cooperation. With total assets exceeding SEK 400 billion (USD ~44 billion), Kommuninvest is the largest lender to the local government sector and one of the ten largest credit institution in Sweden. The head office is located in Örebro.
