Press release -
Kommuninvest issues USD 1 billion in new benchmark bond
Kommuninvest today issued USD 1 billion (approximately SEK 10,4 billion) in a new bond maturing on the 25thof August 2027. This was the second USD transaction of the year and demand was high and diversified from many leading investors.
The order book consisted of over 80 investors, with a total interest of above USD 3.4 billion. The bond was priced at 36 basis points above mid-swaps and 11 basis points above corresponding US Treasuries.
- There was a great commitment to this second benchmark bond of the year in the USD market. The USD market is important for us to secure cost-effective funding for the Swedish municipal sector and we were particularly pleased with the volume and quality of the final order backlog from many leading investors. We have now secured about SEK 105 billion of our funding target of SEK 130-150 billion for the year, says Viktor Mejman, funding manager at Kommuninvest
Transaction details: Press Points
For further information:
Tobias Landström, Deputy Head of Debt Management, phone: +46 705 86 78 51
e-mail: tobias.landstrom@kommuninvest.se
Viktor Mejman, Funding manager, phone: +46 10 470 88 15
e-mail: viktor.mejman@kommuninvest.se
Victoria Preger, Chief Communication Officer, phone: +46-70-266 87 26
e-mail: victoria.preger@kommuninvest.se
Topics
- Working life
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 the start in 1986, the Kommuninvest collaboration has helped reduce the local government sector’s borrowing costs by many billion SEK. Currently, 294 municipalities and regions are members of this voluntary cooperation. With a balance sheet total of more than SEK 600 billion (USD ~55 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.
