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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.

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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 when it is required by law or when third 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.  

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

Kommuninvest has high ambitions regarding openness, traceability and transparency. At the same time, the company complies with regulations aimed at protecting the individual and its integrity. Much of the information pertaining to an individual is referred to as personal data. Personal data are defined as follows: Any information directly or indirectly attributable to a human being who is in life is regarded as personal data. Even images (photos) and sound recordings on individuals treated by computer can be personal data even if no names are mentioned. Encrypted data and various types of electronic identities, such as IP numbers, are counted as personal data if they can be linked to a physical person. This information describes Kommuninvest's considerations and regulations regarding the company's handling of personal information when you visit our websites or have other contacts with us. Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organization. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to all data that is held about you. By visiting our site, you agree to these privacy principles. If you do not agree to these data protection principles, stop using this site and refrain from phone contacts. We refer instead to mail correspondence, which is handled through the registrations department. 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 to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily when visiting the Kommuninvest website, when entering contracts, or when data is otherwise recorded about the preparation or administration of a contract (for example, about a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed by recording the call. 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 Protection Authority.  

Non-identifiable data

Kommuninvest may occasionally collect anonymous information about the use of its websites to improve the site and the services provided. These usage data may apply among others: the number of visits to the site and their length; the user's geographical position; usage rate of the site different sections; which technique is used; disturbances in the business. The data is not reviewed at an individual level without your express permission.  

Identifiable data

When Kommuninvest collects identifiable data, we strive to inform you as to the purpose for which the information is requested. Normally, this information is requested to answer your questions. Kommuninvest may share this type of information within the Group for the purposes mentioned in this information. Kommuninvest uses subcontractors to offer digital services. We may need to share your personal information with these for them to provide us with their services. Our subcontractors may not use this kind of personal data for any other purpose and we assume that their services are covered by privacy. Kommuninvest does not sell and does not exchange personal data with other companies for marketing purposes. Kommuninvest may contact you to complete customer satisfaction and market research.  

Personnel management

In an application or request relating to an employment advertised on our website or in any other medium, you may need to provide Kommuninvest personal information, such as your resume. Kommuninvest can use this information on all its units when making employment decisions or for purpose of the request. Kommuninvest can save the data for future use, unless you have prohibited this.  

Subcontractors in information management

In some situations, Kommuninvest uses subcontractors who collects, evaluates and otherwise handles data on our behalf. Kommuninvest's principle is that subcontractors commit to our data protection regulations. Normally this is governed by an agreement between Kommuninvest and our suppliers.  

The accuracy of your personal data

This site may not be used to publish or disseminate data protected by copyright or other equivalent rights without the permission of the proprietor, or otherwise in a way that is adversely, offensive or harmful to Kommuninvest or third parties. By submitting this type of information through the Website, you grant Kommuninvest the right to use, develop, produce, distribute, publish or transmit the information you send in whole or in part, and / or add the data sent from you without obligation and liability to other material or other products or services.  

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.

Comments on Kommuninvest's actions

You are welcome to contact Kommuninvest's complaint manager who takes care of your comments. Describe what you are not happy with and who you previously have had contact with. Kommuninvest i Sverige AB Klagomålsansvarig Box 124 701 42 Örebro

Kommuninvest again achieves lower funding cost with green bond

Kommuninvest has issued its fifth green bond, and its third in Swedish krona. On Tuesday, the Swedish local government debt office issued a short 5-year SEK 3 billion green bond in an oversubscribed transaction that enabled pricing at 2.5 b.p. inside the issuer’s regular Swedish krona benchmark curve. The performance mirrored Kommuninvest’s previous SEK green bond, issued in April 2018 at 3 b.p. inside the curve.

The new green bond attracted a total of 29 domestic and international institutional investors, including AP7, APG on behalf of its pension fund clients, Captor, Cliens, Czech National Bank, Danske Asset Management, Danske Bank A/S, Handelsbanken Asset Management, LF Bank, LF Jönköping, LF Västernorrland, MP Pension, Nordea Asset Management, SBAB Bank and Swedbank Robur. The bond matures in June 2023.

Since Kommuninvest launched its green finance programme in June 2015, SEK 20.4 billion has been issued in green bonds, making Kommuninvest the largest Swedish issuer. Five green bonds have been issued to date, of which three in Swedish kronor and two in US dollars. The final order book amounted to SEK 5.3 billion, with participation from eleven countries. both domestic and international investors. The bond is estimated to have priced 2.5 basis points inside Kommuninvest’s outstanding Swedish bond programme curve.

Per-Erik Grahn, Nordea Asset Management, commented the transaction:

– We have grown accustomed to look for opportunities in the capital markets to leverage on sustainability. This bond from Kommuninvest, albeit be it with a tight price, constitutes such an opportunity. We look forward to follow up on the use of proceeds by means of the impact report.

Kommuninvest green bonds finance lending to investment projects in some 100 Swedish municipalities and county councils/regions, including the new surgery center at the main hospital in Karlstad, the Ängen wastewater treatment facility in Lidköping, the ecological residential district Aspö Ekologi in Skövde and the Wisby high school premises on the island of Gotland.

Green bonds also finance one of Sweden’s most innovative remodeling projects, where the municipal housing company Vårgårda Bostäder renovates and upgrades a housing district from the 1960s to become fully self-sufficient for energy.

Kommuninvest allocates green bond proceeds to lending for green investments, e.g. Green loans. As of early October 2018, Kommuninvest’s portfolio of Green loans amounted to a total of SEK 35.2 billion in commitments to 209 projects in 98 municipalities and county councils/regions. 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.

Comment from Tobias Landström, Deputy Head of Debt Management at Kommuninvest:

– The green bond market is growing rapidly and we are pleased to see the strong interest for this transaction, with investors from eleven countries. The fact that we can obtain lower funding costs demonstrate the tangible value of sustainability and makes it easier for Kommuninvest to support the green transition of the municipal sector.

 

UN award for green finance model

Kommuninvest’s role as an aggregator and conduit issuer for cost-efficient funding of public sector investments has been recognized by the United Nations, which awarded Kommuninvest its United Nations ‘Momentum for Change’ Climate Solutions Award, in connection with the COP23 climate conference in Bonn, Germany, in 2017.

 

More information

Press Points

Green Bonds

 

 

 

Contact information

Tobias Landström, Deputy Head of Debt Management
tel: +46 10 470 88 83, tobias.landstrom@kommuninvest.se

Björn Bergstrand, Head of Sustainability/Senior Investor Relations Manager, tel: +46 70 886 94 76, email: bjorn.bergstrand@kommuninvest.se