Press release -
Kommuninvest issued new bond in the SEK programme
Today Kommuninvest has issued a new 7-year bond under the Swedish Benchmark Programme. SEK 3 billion (USD 0.35 billion) was issued and the bid-to-cover ratio of the transaction was 1.7.
The new bond, K2805, matures on 2028-05-12. The transaction was priced at 5.5 basis points above mid-swaps and around 46 basis points above the corresponding Swedish government bond.
Following the transaction, the Swedish Benchmark Programme has nine outstanding bonds with maturities between 2021 and 2028. The outstanding volume is approx. SEK 275 billion (USD 32 billion).
- We continue to meet strong demand for our SEK funding. This is not surprising given the pick up in yield relative to Swedish government bonds. The programme is a cornerstone in terms of delivering on our mission: cost-effective financing of welfare investments in the Swedish public sector, says Christian Ragnartz, Head of Debt Management at Kommuninvest.
For further information
Christian Ragnartz, Head of Debt Management, tel: +46 706 07 38 34, e-mail: christian.ragnartz@kommuninvest.se
Lovisa Kanedal, Funding Manager, tel: +46 72 210 58 49, e-mail: lovisa.kanedal@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, 292 municipalities and regions are members of this voluntary cooperation. With a balance sheet total exceeding SEK 525 billion (USD ~62 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.
