Press release -
Kommuninvest raises SEK 3 billion in new bond
Kommuninvest today raised SEK 3 billion (USD 0.3 billion) in a new bond, maturing on 2029-03-12, under the Swedish Benchmark Programme.
The new bond is labeled K2903 and will be included in the calendar for the regular auctions of the programme.
The transaction, which had a bid-to-cover ratio of 2.6, was priced 47.8 basis points above mid-swaps and approximately 135 basis points above the corresponding Swedish government bond.
– It was positive to see that this new and slightly longer bond, which is an important addition to the programme, met such strong demand. Having an attractive offering for long-term investors is a key factor in our work to secure cost-efficient loans for investments in the municipal sector in Sweden, says Tobias Landström, Deputy 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
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, 294 municipalities and regions are members of this voluntary cooperation. With a balance sheet total of close to SEK 600 billion (USD ~56 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.
