Press release -
Kommuninvest launches K2410, a new bond in its Swedish Benchmark Programme
Kommuninvest will shortly, and market conditions permitting, issue a new bond under its Swedish Benchmark Programme. The bond, labelled K2410, will mature on 2 of October 2024. Kommuninvest targets benchmark status for K2410, equivalent to SEK 3 billion outstanding on the first day of trading. Final terms are to be established shortly.
Kommuninvest currently accounts for approximately 50 percent of the total external borrowings of Swedish local governments, with a substantial part of its funding undertaken in its Swedish benchmark programme. Current outstanding volumes is SEK 153 billion in seven bonds.
– Our Swedish benchmark programme is now well established, and our focus is on maintaining and developing the programme in tune with the local government sector’s borrowing needs. We also see that our customers tend to go for longer maturities. This motivates the launch of this new 7-year-old bond, says Pelle Ekestubbe, Senior Portfolio Manager at Kommuninvest.
Kommuninvest’s 2017 funding target, applicable to funding >1 year, is SEK 90-95 billion.
Additional Swedish Benchmark Programme information
For further information
Christian Ragnartz, Head of Debt Management, +46 (0) 70 607 38 34, christian.ragnartz@kommuninvest.se
Marcus Waineby Senior Portfolio Manager, +46 (0) 10 470 88 63, marcus.waineby@kommuninvest.se
Pelle Ekestubbe, Senior Portfolio Manager, +46 (0) 10-470 88 62, pelle.ekestubbe@kommuninvest.se
Tobias Landström Senior Funding Officer, +46 (0) 10 470 88,
Tobias.landstrom@kommuninvest.se
Björn Bergstrand, Head of Media Relations, +46 (0)10 470 87 31, +46 (0) 70 886 94 76, 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 county councils/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.
