Press release -
Kommuninvest plans to issue new SEK bond
Kommuninvest plans to, subject to market conditions, issue a new bond under the Swedish Benchmark Programme. The new bond, K3006, will mature on 2030-06-12. The first possible date of issuance is 24 of April.
The bond will be issued in an auction at Bloomberg’s auction platform (AUPD). The ambition is to issue SEK 3 billion.
– The Swedish Benchmark Programme continues to develop in a positive way. By adding this new bond, we are creating expanded opportunities for investors with a long-term perspective, says Tobias Landström, Deputy Head of Debt Management at Kommuninvest.
On the date of issuance, the auction will start at 09.00 CET. Bids are to be placed as spread vs matched maturity swap expressed in basis points. Bids are to be placed through market makers in the benchmark programme. The auction closes at 10.00 CET. The plan is to announce the results within 15 minutes of closure. Market makers will find the summary of the auction in Bloomberg.
Kommuninvest is under no obligation to issue the entire indicated volume and reserves the right to reject bids that are deemed to be unnecessarily expensive. There are no absolute rules for rejection. In a volatile and uncertain market, greater deviations from indicative market prices may be accepted.
For further information
Tobias Landström, Deputy Head of Debt Management, phone: +46 705 86 78 51
e-mail: tobias.landstrom@kommuninvest.se
Victoria Preger, Chief Communication Officer, phone: +46 702 66 87 26
e-mail: victoria.preger@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 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.
