Press release -
Kommuninvest issues SEK 3 billion in a new Floating Rate Note
Kommuninvest today issued SEK 3 billion (USD 0,3 billion) in a new Floating Rate Note under the Swedish Benchmark Program.
The new bond is labeled F2906 and matures the 27th of June 2029.
The transaction, which was oversubscribed, was priced 23 basis points above the swap rate and approximately 54 basis points above the corresponding Swedish government bond.
– It was positive to see such a strong investor interest in this new FRN bond F2906. To have the long-term investors onboard is important both for the development of the product and for our ability to secure cost-effective financing of the investments for the municipal sector in Sweden, says Tobias Landström, Acting Head of Debt Management at Kommuninvest.
Transaction details: Press Points
For further information:
Tobias Landström, Acting Head of Debt Management, phone: +46 70 586 78 51
e-mail: tobias.landstrom@kommuninvest.se
Marcus Waineby, Senior Funding Manager, phone: +46 70 696 77 69
e-mail: marcus.waineby@kommuninvest.se
Victoria Preger, Chief Communication Officer, phone: +46 70 266 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.
