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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.

Kommuninvest publishes 2017 assurance report on its green bonds framework

Kommuninvest, the Swedish local government funding agency, today published its second assurance report regarding its green bonds framework. The report, performed by Kommuninvest’s external auditor KPMG, provides assurance on the management of proceeds obtained from the issuance of green bonds.

Kommuninvest issued its inaugural green bond in March 2016, for USD 600 million, and has since issued two additional green bonds, for SEK 5 billion and USD 500 million, in October 2016 and May 2017, respectively. Issued green bonds finance lending to Swedish municipal investment projects in renewable energy, energy efficiency, green buildings, public transport and water management. As of 30 September 2017, Kommuninvest had built up a green loan book amounting to approx. SEK 25 billion (USD 3.1 billion), committing funds to some 140 investment projects in 80 Swedish municipalities and county councils/regions.

Kommuninvest’s green bond framework is aligned with the Green Bond Principles (GBP), of which Kommuninvest is a member. The GBP recommends issuers to use an external review to confirm the alignment of their green bonds with the key features of the GBP, to provide investors and other interested parties with independent assurance.

Kommuninvest engages such external input in two ways. Firstly, the green bonds framework has a second party opinion from Cicero, the Oslo-based climate and environmental research institute. The second opinion is available in the Green Bonds section of Kommuninvest’s website.

Secondly, Kommuninvest engages its external auditor to provide assurance on the management of proceeds obtained from the issuance of green bonds. The first such review was performed in March 2016. The second review, which has formed the basis for the report published today, was performed in August 2017.

The report has been undertaken in accordance with the Swedish standard for agreed-upon procedures engagements, SNT 4400, which is based on the International Standard on Related Services, ISRS 4400. The report is available for download below.

Readers are advised that, following a meeting in the Kommuninvest Green Bonds Environmental Committee on September 26, 2017, project #94 has been approved. Project #89 is under review for additional documentation from the borrower.

For projects #99 and #129, negative amounts are shown in the column ”Still to borrow”. This is attributable to loan to the same borrower for multiple projects in the same project category, however the total amount disbursed to the projects did not exceed the total amount granted. Since the review was conducted on 24 August, 2017 this has been corrected.

Kommuninvest Green Bonds Assurance Report 2017

 

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, 288 municipalities and county councils/regions are members of this voluntary cooperation. With total assets approaching SEK 400 billion (USD ~50 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.

 

For further information

Björn Bergstrand, Head of Sustainability and Senior Investor Relations Manager, +46 708 86 94 76, e-mail: bjorn.bergstrand@kommuninvest.se

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