Press release -
Largest-ever order book for a Kommuninvest transaction
Kommuninvest, the Swedish local government debt office, has issued USD 1.5 billion in long 3-year Reg-S/144a note. With a final order book of USD 3.5 billion, the transaction was Kommuninvest's most oversubscribed transaction ever. In total, 59 investors were allocated in the transaction, mainly central banks, public institutions and banks. This was also a record for Kommuninvest.
Christian Ragnartz, Head of Debt Management at Kommuninvest, commented:
- This was a very good start to this year's funding activities. The exceptionally strong demand likely reflects the current uncertain market conditions; nevertheless we appreciate having access to a high-quality global investor base which continue to invest in our funding programs.
Kommuninvest's funding forecast for 2019 amounts to SEK 100-120 billion.
For more information on the transaction, see Press Points attached to this release.
Contact information
Christian Ragnartz, Head of Debt Management, tel: +46 706 07 38 34, e-mail: christian.ragnartz@kommuninvest.se
Marcus Waineby, Senior Funding Manager, tel: +46 706 96 77 69, e-mail:
marcus.waineby@kommuninvest.se
Björn Bergstrand, Head of Media Relations, +46 708 86 94 76, e-mail: bjorn.bergstrand@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 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 regions are members of this voluntary cooperation, out of a total of 310 Swedish local governments. With total assets of around SEK 360 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.
