kommuninvest-logo-staende

Disclaimer

The content of this section is intended for investors and for informational purposes only. The content is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Kommuninvest does not make representation or warranty (express or implied) of any nature or accept any responsibility or liability of any kind for accuracy or sufficiency of any information, statement, assumption or projection in this information, or for any loss or damage (whether direct, indirect, consequential or other) arising out of reliance upon this content. The reader of the information of this section is solely responsible for making its own independent appraisal of the contents herein.

Cookies

A ‘cookie’ is a small text file that a website asks to be saved on the visitor’s computer. Cookies are used on many websites to allow visitors to use various functions. Information contained in cookies can also be used to track the surfing of a user on websites that use the same cookie.

There are two kinds of cookie. One kind saves the file for a long time on the visitor’s computer; this cookie has an expiry date.When the expiry date has passed, the cookie is deleted when the user returns to the website that created it.The second kind of cookie is called a ‘session cookie’ and does not have an expiry date. This cookie is temporarily stored in the memory of a user’s computer while the user is surfing on a site, for example to keep track of which language the user has chosen. A session cookie is not stored in the user’s computer for a long period of time, but disappears when the user shuts down their web browser.

Google Analytics

Kommuninvest website uses Google Analytics, a web analytics service provided by Google. Google Analytics use cookies and the information generated by them, through your use of this website (including your IP address), will be transmitted to and stored by Google on servers in the United States. This information is used to evaluate visitor statistics. Kommuninvest, for example, use reports from the visits on the web site to improve content, navigation and structure.

Google may also transfer this information to third parties whenit is required by law or whenthird parties process the information on Google's behalf. Google will not associate IP addresses with any other data held by Google. You may refuse the use of cookies by selecting the appropriate settings in the browser (see below). By visiting Kommuninvest´s site, you agree that Google processes personal information in the manner and for the purposes described above.

How to avoid cookies

If you do not wish to accept cookies, your web browser can be set to automatically deny the storage of cookies or to inform you every time a website requests permission to store a cookie. Previously stored cookies can also be deleted via the web browser. Visit the web browser’s help pages for more information.

If you have any questions about this don’t hesitate to contact us.

Information regarding the treatment of personal data by Kommuninvest i Sverige AB

There are provisions contained within The Personal Data Act (“personuppgiftslagen” 1998:204) regarding the way in which personal data should be treated. The purpose of this legislation is to protect individuals from having their privacy violated via the processing of their personal data. The term “personal data” in this context refers to any information that can directly or indirectly be attributed to a living human being.

Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organisation. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to any and all data that is held about you. Please feel free to get in touch with us if you need any further information about this by using the contact details below.

Personal data that is being managed

Kommuninvest processes personal data for the administration and execution of contracts that are in force, and also in order to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily in connection with visits to the Kommuninvest website, when entering into contracts, or when data is otherwise recorded in connection with the preparation or administration of a contract (for example, in connection with a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed because such telephone calls are recorded. Kommuninvest may also supplement personal data by obtaining further information from public records.

Personal data may be disclosed in certain situations where Kommuninvest is obliged by law to provide information to an agency, for example the Swedish Financial Supervisory Authority, or the Swedish Data Inspection Board.

Transcript from register and the rectification of errors

Once a year you can, free of charge, request a transcript from Kommuninvest whereby you will receive information on the personal data about you that is being held, where this data came from, why it was obtained, the purpose for which it is being held, and to whom any data may be disclosed. If you would like to be sent such a transcript, please send a written request, signed by you, to the address you will find below. You can notify us at the same address if you no longer wish to receive information from Kommuninvest, or if you would like to request the correction of some erroneous or incomplete personal data.

PRESS RELEASE: Kommuninvest smashes green bond krona record with SEK 5 bn deal

The Swedish local government debt office, Kommuninvest, priced its second green bond for the year, and its first-ever green bond in Swedish krona, on Tuesday, smashing the record for a krona-denominated green bond deal. The issuer, which announced a SEK 3-5 bn transaction on Monday, settled on a SEK 5 bn deal following an oversubscribed order book amounting to over SEK 13 billion. Investors in the bond included AP7, Folksam, KfW and SPP Storebrand. The previous record for the largest green bond in Swedish krona was a SEK 2.5 bn dual tranche deal from Fortum Värme in May 2015.

The Kommuninvest green bond will finance lending to Swedish municipal investment projects in renewable energy, energy efficiency, green buildings, public transport and water management. Kommuninvest has built up a green loan book amounting to SEK 14.5 billion (USD 1.6 billion), committing funds to some 60 investment projects in 40 Swedish municipalities and county councils/regions. Renewable energy and Green buildings account for the vast majority of projects in the portfolio, at 43 percent and 39 percent, respectively.
Some of the projects financed by the green bond include the new Högås school in Knivsta, Sweden’s first school built as a passive house, a pilot facility in Umeå for green coal, and an optical waste sorting facility in Halmstad.

Comment from Anders Gånge, Head of Funding & Treasury at Kommuninvest:

– We have been aiming for a Swedish krona green bond for some time, and we feel this was a great debut. The order book shows significant support from Swedish green investors, which was one of the objectives, but also includes recognized international accounts. Pricing was in line with our expectations, with the deal eventually priced at 2 bps below our Swedish benchmark curve. We are glad to see that investors are willing to pay a premium for green.

– With the two green bonds issued this year, we have firmly established green bonds into our funding programme in both SEK and USD, and we look forward to bringing new bonds to the market in the future.

Kommuninvest expects to continue to grow its green loan portfolio, and to be able to be a frequent issuer of green bonds, in multiple currencies.

– Looking at the pace and direction of Swedish local government investment, we see a lot of potential for further growth in green lending, says Anders Gånge. We estimate that, in a few years, 15-20 percent of our lending will finance green projects.

Tomas Werngren, Kommuninvest’s CEO, believes that local government entities can provide significant contributions towards greening financial markets, which by world leaders has been identified as an important component to achieve global climate objectives.

– In Sweden, the local government sector invests well in excess of SEK 100 billion annually, with a clear focus on sustainability and environmental benefits. They are key to achieving Sweden’s ambitious environmental targets.

According to the Kommuninvest Green Bonds Framework, all eligible projects must be approved by its environmental committee, comprising independent environment and climate experts from the Swedish local government sector. The environmental committee audits and finally approves green loan applications, reviews green loan reporting by borrowers and approves investor impact reporting.

Kommuninvest’s role as an aggregator and conduit issuer for cost-efficient public sector investments has been recognized by the OECD, in its report “Green Bonds: Country Experiences, Barriers and Options” published in 2016 in support of the G20 Green Finance Study Group.

Kommuninvest green bonds have received strong support from environmentally focused accounts including AP4, CalSTRS, Everence Financial, NIB and United Nations Joint Staff Pension Fund. Among investors in Tuesday’s Swedish-krona denominated green bond were Alecta, AP3, AP7, Danske Capital, Folksam Group, Nordea Asset Management, KfW, SBAB, SPP Storebrand and Öhman.

 

More information

Please see Press Points.

Please visit our Green Bonds web page

 

About Kommuninvest

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, 274 municipalities and 10 county councils/regions are members of this voluntary cooperation. With total assets of around SEK 370 billion (USD ~42 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.

 

Contact information

Anders Gånge, Head of Funding & Treasury, tel: +46 10 470 87 12, e-mail: anders.gange@kommuninvest.se

Björn Bergstrand, Head of Media Relations / Head of Sustainability, tel: +46 (0)70-886 94 76, email: bjorn.bergstrand@kommuninvest.se

Carl-Henrik Arosenius, Head of Investor Relations, mobile: +46 70 600 17 52, e-mail: carl-henrik.arosenius@kommuninvest.se