Press release -
Kommuninvest plans to issue new SEK bond
In the near future, Kommuninvest plans to, subject to market conditions, issue a new 6-year bond under the Swedish Benchmark Programme.
The bond (K2706) will mature on 2027-06-15. The first possible date of issuance is 29 September.
The bond will be issued in an auction that will be processed through Bloomberg’s auction platform (AUPD). The ambition is to issue SEK 3 billion.
On the date of issuance, the auction will start at 09.00 CET. Bids are to be placed as spread vs matched maturity swap expressed in basis points. Bids are to be placed through market makers in the benchmark programme. The auction closes at 10.00 CET. The plan is to announce the results within 15 minutes of closure. Market makers will find the summary of the auction in Bloomberg.
Kommuninvest is under no obligation to issue the entire indicated volume and reserves the right to reject bids that are deemed to be unnecessarily expensive. There are no absolute rules for rejection. In a volatile and uncertain market, greater deviations from indicative market prices may be accepted.
- This new issue is yet another natural step in the development of the Swedish Benchmark Programme. With a new and slightly longer bond, we create a broader offering for long-term investors, says Tobias Landström, Deputy Head of Debt Management at Kommuninvest.
The upcoming new issue means that the regular auction in the Swedish Benchmark Programme planned for 29 September is canceled.
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.