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KommuneKredit launches new 11Y EUR Benchmark

Press release -

KommuneKredit launches new 11Y EUR Benchmark

On 20 August 2019, KommuneKredit launched a new 11-year EUR benchmark transaction. The mandate for the new issue was announced in the market on Monday 19 August in conjunction with a switch and tender offer in KommuneKredit’s EUR 1.25bn 0.25% bonds maturing in October 2020.

The orderbook was officially opened around 8.00am London time on 20 August with a spread guidance of mid-swaps +4 bps. Books were in excess of EUR 340 million around 10.00am and the spread was set at +4 bps. Ultimately the issue size was set at EUR 500 million with books in excess of EUR 500 million (including joint lead manager interest).

The result of the switch and tender offer was that no bonds were offered for buy back by KommuneKredit.

More than 64 investors participated in the issue with participation from central banks, official institutions, asset managers and bank treasuries.

Joint Lead Managers on the issue were: Citi, DZ Bank, Goldman Sachs International and Natixis.

For further detail please read the Press Points.

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.

Press contacts

Jens Lundager

Jens Lundager

Press contact CEO +45 3369 7622

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