Press release -
Kommuninvest launches K2611, a new bond in its Swedish Benchmark Programme
Kommuninvest will shortly, market conditions permitting, issue a new bond under its Swedish Benchmark Programme. The bond, labelled K2611, will mature on 12 November 2026. Kommuninvest targets benchmark status for K2611, equivalent to SEK 3 billion outstanding on the first day of trading. Final terms are to be established shortly.
Kommuninvest finances more than 50 percent of the total external borrowings of Swedish local governments, with a substantial part of its own funding undertaken in its Swedish Benchmark Programme. The current outstanding volume in the Programme is SEK 193 billion in eight bonds.
– We continue to build the Swedish benchmark bond programme, a now well-established part of the Swedish fixed income market. The focus remains on transparency, predictability and, as far as possible, being able to meet investors' needs, says Christian Ragnartz, Head of Debt management.
The Swedish Benchmark Programme is the joint capital markets funding programme for municipalities and regions. By focusing its funding to a few markets, Kommuninvest believes the right conditions are set for efficient financing of municipal and regional investments.
Kommuninvest's current long-term funding forecast for 2019 is SEK 100-120 billion, with expectations of outcomes in the higher part of the range.
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 (0) 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.
