On Thursday 13th January, KommuneKredit priced a new USD 1 billion (no-grow) Dec-23 benchmark.
KommuneKredit announced the first 2-Year USD benchmark in 2022, a USD 1 billion (no grow) Dec-2023 benchmark at 13.30pm UKT on Wednesday afternoon. Initial-price-thoughts of SOFR MS+14bps area were released alongside the mandate.
The transaction enjoyed a strong reception from the outset, and the o
On 3 June 2020 KommuneKredit completed the issue of a new 5-year USD 1bn benchmark and a switch and tender offer for existing investors in two outstanding USD benchmarks.
The switch and tender announcement for the two outstanding USD benchmarks was published on 2 June 2020 alongside the mandate for a new 5-year USD benchmark. Books for the new benchmark was officially opened on 3 June 2020. Bas
Today, KommuneKredit issued its second benchmark in DKK. This time a new long 3-year bond, maturing on 19 May 2022 and carrying a 0% coupon. The finale size of the bond offering was DKK 5bn and the bond issues was arranged by joint lead managers Danske Bank and Nordea.
On 31 October 2018 KommuneKredit launched a DKK benchmark. The bond issue was DKK 3 bn. with 5 year maturity. Nordea Bank and Danske Bank were joint lead managers on the issue.
Moody’s Investor Service has published their Update to Credit Opinion confirming KommuneKredit’s Aaa rating and stable outlook.
Moody’s highlights KommuneKredit’s:
close link to government and the joint and several liability provided by all Danish regional and local governments
the excellent asset quality
direct oversight by sovereign, with prudent counterparty risk policies
a s
On 22 August 2018 KommuneKredit launched a new benchmark issue – a EUR 500 million 5-year issue.
The issue was successful with strong investor interest and a few hours after launch orders totalled more than EUR 1 billion. The strong demand from investors created room for a price adjustment to the final pricing at mid-swaps minus 12 bps. More than 45 investors participated.
The bond issue is
On 4 June 2018 KommuneKredit announced a new fixed rate USD benchmark maturing on 15 November 2021. In addition, KommuneKredit offered to buy back two existing bonds with maturities on 27 August 2018 and 15 January 2019 respectively. The 4 banks, Toronto Dominion, Deutsche Bank, Scotiabank and Bank of Amerika Merrill Lynch, were mandated as joint lead managers on the new bond deal as well as the b
KommuneKredit announced on 16 April 2018 a new fixed rate GBP benchmark with maturity in October 2022 combined with a buyback in KommuneKredit’s GBP bond with maturity in December 2018. The 3 banks NatWest, Nomura and RBC were mandated as joint lead managers, and RBC was appointed billing and delivery bank for the buyback. The bond issue was offered with an price indication of UK Treasuries + 35 b
On Tuesday 6 March 2018 KommuneKredit issued the second EUR benchmark of 2018.
The bonds have a coupon of 0.25% and matures on 15 May 2023. The price of the bonds is based on mid-swaps minus 13 bps. The books opened at mid-swaps minus 11 bps and the order book developed strongly within a few hours. The final price was set at mid-swaps minus 13 bps.
More than 70 investors participated and ord
On Tuesday 16th January 2018, KommuneKredit issued its first Euro benchmark bond of 2018. The issue carries an annual coupon of 0.50% and has a maturity date of 24 January 2025. The bond was priced at a spread of mid-swaps minus 10bps. The initial price guidance was set at mid-swaps minus 8 bps and was quickly revised to mid-swaps minus 9 bps 30 minutes after. The momentum continued unabated, with
KommuneKredit opened the international capital markets by issuing the first benchmark of 2018 – a 1bn 3-year Fixed Rate issue in USD.
From the announcement on 2 January 2018 to the books officially closed on 3 January at 11 am Copenhagen time there was a great demand for the issue. The bond started with an indication on mid swaps + 9 area, but after the order book grew to just below USD 2bn., K
KommuneKredit is a Danish special-purpose credit institution, providing funding for the local growth and green transition in municipalities and regions across Denmark.
KommuneKredit is an association with sustainability at its core and a strong ESG profile. Our member base consists of all Danish municipal and regional authorities. Our guarantee structure and safe business model have secured us a premium credit rating (AAA) (Aaa).
That is why we can offer municipalities and regions instant and uncomplicated access to financing of projects large or small and at the lowest possible cost. With equal opportunities and terms for all – across the entire country.
That is how it has been since 1899, when KommuneKredit first disbursed a loan. And that is the way it is today, as our dedicated employees advise on and arrange more than 2,000 loans every year.
When investors buy our bonds, we can disburse loans for purposes ranging from energy renovation of a local sports centre to the purchase of a new eco-friendly hybrid ferry, or the establishment of more sustainable district heating systems across the country.
For the benefit of ordinary citizens, for our local communities, and for an even greener future.
