Press release -
Kommuninvest issues USD 1.25 billion in new benchmark bond
Kommuninvest today raised USD 1.25 billion in a new benchmark bond. This was the third USD transaction of the year.
Interest for the new bond, maturing on 2024-07-03, was strong. The order book included more than 75 investors and bids totalling over USD 3.5 billion. The bond was priced at 17 basis points above mid-swaps and 28.5 basis points above corresponding US Treasuries. This means that pricing in the USD market remains at approximately the same level as in the SEK market.
– We continue to meet high demand in our USD transactions, with a presence of many leading global investors. This is positive and important. Under these conditions, we can in our turn offer cost-efficient loans for the welfare investments necessary to secure quality and development in the municipal sector in Sweden, says Christian Ragnartz, Head of Debt Management at Kommuninvest.
Transaction details: Press Points
For further information
Christian Ragnartz, Head of Debt Management, tel: +46 706 07 38 34, e-mail: christian.ragnartz@kommuninvest.se
Tobias Landström, Deputy Head of Debt Management, tel: +46 705 86 78 51, e-mail: tobias.landstrom@kommuninvest.se
David Ljung, Head of Communications, tel: +46 73 068 45 45, e-mail: david.ljung@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 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 approx. SEK 525 billion (USD ~56 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.
