Kommuninvest issues largest Green Bond ever from Nordic SSA

Kommuninvest has issued USD 1 billion in a 3-year Reg-S/144a Green Bond note for its USD benchmark programme. The transaction is the largest Green Bond to date from a Nordic SSA, and confirmed Kommuninvest’s position as Sweden’s largest Green Bond issuer.

The new bond matures on 24 April 2023 and was issued with a yield of 1.625 percent, 11 basis points above mid-swaps and 9,55 basis points over corresponding US Treasuries. The transaction gained significant investor interest; the orderbook amounted to USD 2.2 bn. This enabled Kommuninvest to tighten pricing with three basis points.

Christian Ragnartz, Head of Debt Management at Kommuninvest:

– Swedish local government continue to make substantial investments in green infrastructure, thereby contributing to Sweden’s objective of becoming one of the first fossile-free welfare countries in the world. We are pleased that the rapid growth of our Green Loans programme enables us to issue such a sizeable bond, and to achieve pricing in support of our member’s objectives of cost-efficient and sustainable financing.

Tobias Landström, Deputy Head of Debt Management at Kommuninvest:

– Kommuninvest is proud to be a leading advocate for Green bond issuance in the Nordic region. We are pleased to see that in our ninth Green transaction, the investor community continues to show strong support for Kommuninvest Green bonds, helping us to achieve the largest SSA Green bond issue from the Nordic region to date. We are furthermore glad to see a highly diverse and good-quality order book from this trade.

After the transaction, Kommuninvest has thirteen outstanding benchmark bonds in USD including two Green Bonds, maturing annually from 2019 to 2023. The total outstanding volume in the USD benchmark programme amounts to USD 15.6 billion.

As of October 30, 2019, Kommuninvest’s Green Loans portfolio amounted to SEK 59.9 billion in committed funding, of which SEK 37.7 billion had been disbursed, for a total of 325 projects in 135 Swedish municipalities and regions.

Kommuninvest’s current forecast for long-term borrowing for 2019 is SEK 120-140 billion. With the recent USD transaction, a total of SEK 130 billion (USD 13.4 billion) has been funded to date. For further information about the transaction please consult the attached Press Points.

About the USD benchmark programme




For further information

Christian Ragnartz
Head of Debt Management
tel: +46 706 07 38 34
e-mail: christian.ragnartz@kommuninvest.se

Tobias Landström
Deputy Head of Debt Management
tel +46 70 586 78 51
e-mail: tobias.landstrom@kommuninvest.se

Marcus Waineby
Senior Funding Manager
tel: +46 706 96 77 69
e-mail: marcus.waineby@kommuninvest.se

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