Press release -
Kommuninvest publishes updated funding forecast for 2019
Kommuninvest, the Swedish local government funding agency, has published an updated funding forecast for the 2019 calendar year, for funding longer than 1-year duration. The forecast is unchanged at SEK 120-140 billion, however with an expectation of an outcome in the higher part of the interval as a result of solid lending growth. As of 30 September, Kommuninvest had borrowed the equivalent of SEK 105 billion in long-term funding.
Long-term funding will continue to have a focus on benchmark funding in SEK and USD, including green funding. Kommuninvest has also decided to include benchmark funding in EUR as a strategic market going forward. The timing for this will depend on market conditions.
More than half of the Swedish external loan debt in the municipal sector is currently financed via Kommuninvest. Kommuninvest continues to grow as a result of a larger market share, more members and the increased welfare investments by Swedish municipalities and regions.
For further information
Christian Ragnartz, Head of Debt Management, tel: +46 706 073 834, e-mail: christian.ragnartz@kommuninvest.se
Björn Bergstrand, Head of Media Relations, +46 708 869 476, e-mail: bjorn.bergstrand@kommuninvest.se
Topics
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 450 billion (USD ~47 billion), Kommuninvest is the largest lender to the local government sector and one of the ten largest credit institutions in Sweden. The head office is located in Örebro.
