Kommuninvest meets strong demand for 3-year USD 1 bn USD benchmark bond

Kommuninvest i Sverige AB, rated AAA/Aaa, on Tuesday completed its first USD benchmark transaction since October 2013, printing USD 1 billion in 3-year notes in Reg-S/144a format.

In a reflection of solid demand for rare, strong issuers like Kommuninvest, books opened on Tuesday with Indications of Interest in excess of USD 900 million. Pricing, which was initially set at ‘Mid-Swaps + 8 bps area’ when books opened was revised down to ‘Mid-Swaps + 6 bps’ during bookbuilding.

Anders Gånge, Head of Funding and Treasury at Kommuninvest, comments:

– We are again highly satisfied with the outcome of a USD benchmark for Kommuninvest. We are also pleased with the investor participation, achieving good geographical split and a high quality composition in our core investor base.

Kommuninvest’s funding target for 2014 is USD 11-14 billion, of which USD 3.2 billion has been completed including this USD benchmark transaction.

About Kommuninvest

Kommuninvest i Sverige AB is owned by 278 Swedish municipalities and county councils with the purpose of supporting their financial operations through secure and cost-efficient financing, skills development and cooperation. With approx. USD 32 billion in lending, Kommuninvest is the largest lender to Swedish local governments.

Contact information

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

Björn Bergstrand, Senior IR Manager/Head of Media Relations, tel: +46 (0)10 470 87 31 alt. +46 (0) 70 886 94 76 e-mail: bjorn.bergstrand@kommuninvest.se