Press release -
Kommuninvest leaves the Uridashi market
Kommuninvest has decided to no longer issue bonds in the Japanese Uridashi market. The decision is part of a continuous effort to optimize the funding strategy.
Kommuninvest has for a long time benefited from the specific opportunities that Uridashi offers. But given the development of the financial markets, there are now clear advantages in concentrating the funding operations to the strategic markets SEK, USD and EUR.
At the end of 2020, Uridashi accounted for 2 percent of Kommuninvest's funding portfolio.
The majority of Kommuninvest's engagements in Uridashi is expected to mature in the near future.
- Our mission is to secure stable and cost-effective financing of investments in the Swedish municipal sector. This means that we are constantly striving to improve our funding strategy. The phasing out of Uridashi is a logical step in that direction, says Christian Ragnartz, Head of Debt Management at Kommuninvest.
(The text above has been updated)
For further information
Christian Ragnartz, Head of Debt Management, tel: +46 706 07 38 34, e-mail: christian.ragnartz@kommuninvest.se
Tobias Landström, Deputy Head of Debt Management, tel: +46 705 86 78 51, e-mail: tobias.landstrom@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, 293 municipalities and regions are members of this voluntary cooperation. With a balance sheet total of approx. SEK 550 billion (USD ~63 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.
