Press release -
Kommuninvest issues USD 1.25 billion in sought-after fifth benchmark of the year
Kommuninvest i Sverige AB, rated AAA/Aaa, issued its fifth USD benchmark transaction for the year on Wednesday, when the Swedish local government debt office printed USD 1.25 billion in long 3-year Reg-S/144a notes. The order book exceeded USD 1.6bn with over 40 participating accounts, with central banks, official institutions and bank treasuries as dominant investor categories.
Tobias Landström, Deputy Head of Debt Management at Kommuninvest, commented:
- In spite of the challenging market back-drop, we were able to complete an oversubscribed, upsized transaction with strong demand from our core investor base of high quality accounts. This is a satisfying way to wrap up this year’s funding activities.
Following the transaction, Kommuninvest has completed SEK 131 billion out of a 2018 funding forecast for long-term borrowing, over 1 year, of SEK 130 bn (USD 14.4 bn).
For further information, see separate Press Points.
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, 288 municipalities and county councils/regions are members of this voluntary cooperation, out of a total of 310 Swedish local governments. With total assets exceeding SEK 400 billion (USD ~41 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.
