Kommuninvest today issued a new bond in its Swedish Benchmark Programme, labelled K1806. The bond immediately achieved benchmark status with more than SEK 3 billion outstanding. Investor interest was stronger than Kommuninvest was prepared to issue on the launch day of the bond.
Including K1806, which matures on 20 June 2018, Kommuninvest has six bonds outstanding in its Swedish Benchmark Programme, maturing annually from 2015 to 2020.
Comments by Anders Gånge, Head of Funding at Kommuninvest:
– Since we launched the Swedish Benchmark Programme in 2010, we have strived to build up significant outstanding volume and a complete yield curve. We trust that today’s successful issue contributes to making the Programme even more attractive to investors.
Kommuninvest’s funding strategy remains firm, to have Swedish krona (SEK) funding account for 50 percent of the total funding by year-end 2015.
The objective of the Swedish Benchmark Programme is to have SEK 110-140 billion outstanding by year-end 2015. Perception to market demand guides the pace of issuance and management of the Programme. As of 14 October SEK 83 billion was outstanding.
Kommuninvest i Sverige AB is owned by 280 Swedish municipalities and county councils with the purpose of supporting their financial operations through secure and cost-efficient financing, skills development and cooperation. With nearly USD 30 billion in lending, Kommuninvest is the largest lender to Swedish local governments.
For further information
Anders Gånge, Head of Funding & Treasury, tel: +46 (0) 10-470 87 12e-mail: email@example.com
Björn Bergstrand, Senior IR Manager/Head of Media Relations,
tel: +46 (0)10 470 87 31 alt. +46 (0) 70 886 94 76
Pelle Ekestubbe, Senior Portfolio Manager, tel: +46 (0) 10-470 88 62