Funding forecast for 2023: SEK 130–150 billion
Kommuninvest has established the funding forecast for 2023. Long-term funding (maturities longer than one year) is expected to be SEK 130–150 billion.
Kommuninvest has established the funding forecast for 2023. Long-term funding (maturities longer than one year) is expected to be SEK 130–150 billion.
Kommuninvest today raised USD 1 billion in a new benchmark bond. This was the sixth USD transaction in 2022. The new bond matures on 7th August 2024. It was priced at 20 basis points above mid-swaps and 35.5 basis points above corresponding US Treasuries.
The Government today tabled its Budget Bill for 2023. Regarding the risk tax, one of the most important issues for the municipal sector, the Government's line is both positive and negative. The compensation to the municipal sector is a positive step along the way, but the exemption for municipal collaboration through Kommuninvest still has to be implemented.
"Local Government Debt Management", which offers a picture of the conditions of the total debt of the municipal sector, has been updated. The average interest rate, including derivatives, for new transactions increased from 1.23 percent in Q2 2022 to 2.09 percent in Q3. The average interest rate, including derivatives, for the total debt increased from 1.00 percent in Q2 2022 to 1.28 percent in Q3
Kommuninvest today raised USD 1 billion in a new benchmark bond maturing on 22nd of October 2025. This was the fifth USD transaction of the year.
Kommuninvest’s funding forecast for 2022 has been updated. The long-term funding (maturities longer than one year) is now expected to be approximately SEK 150 billion. The initial forecast for the year was set at SEK 115-135 billion. In April, the forecast was revised to SEK 125-145 billion. This is now followed by yet another increase.
Kommuninvest today raised SEK 3.5 billion (USD 0.3 billion) in a new Green Bond. This was the 16th green transaction so far. The bond is denominated in SEK and matures on 2025-09-01. After this transaction, Kommuninvest has a total of around SEK 67 billion outstanding in nine Green Bonds – six of which are in SEK, two in USD and one in EUR.
Kommuninvest i Sverige AB today publishes its Interim Report for 2022. Developments in the first half of the year have been turbulent. There have been significant challenges linked to high inflation, rising interest rates and volatile markets. Despite this, Kommuninvest's operations have continued to be stable and efficient.
Kommuninvest’s Green Bonds Framework is aligned with international guidelines, the so-called Green Bond Principles (GBP). On that basis, the Framework every year undergoes an external review. The aim is to provide assurance on the management of proceeds obtained from the issuance of these bonds. This year's assurance report, from Kommuninvest's external auditor KPMG, is now available.
The digital report "Local Government Debt Management", which offers a picture of the structure and conditions of the total debt of the municipal sector, has been updated with new data. The rapid rise in interest rates continued. The average interest rate, including derivatives, for new transactions increased from 0.65 percent in the first quarter 2022 to 1.18 percent in the second quarter 2022.
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.
Drottninggatan 2
70142 Örebro
Sverige