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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

Cookies are small text files that are stored on the visitor’s browser or hard drive of the computer or device. Information contained in cookies can be used to track the surfing of a user on the website and store personal settings. There are two kinds of cookie. Session cookies are deleted from the computer or device when closing the web-browser. Persistent cookies will remain stored on the computer or device until deleted by the user or until they reach their expiry date.  

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 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.  

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. By visiting the web-site of the Swedish Post and Telecom Authority (PTS), that monitors the electronic communications sector, you will find further information about cookies.

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

 

Loans provided only to Swedish municipalities and regions

All of Kommuninvest’s lending is to Swedish municipalities and regions. Loans may be offered to:

  • Municipalities and regions who are members of the Kommuninvest Cooperative Society.
  • Municipal and regionally-owned companies, in which one or more members of the Kommuninvest Cooperative Society holds a controlling influence.
  • Local government foundations and associations, on the condition that a guarantee is provided and that they are closely affiliated with a member or members of the Kommuninvest Cooperative Society.

Loans that meet customers’ needs

In 2019, Kommuninvest’s lending grew to SEK 406.5 (353.9) billion. This growth reflects increased investment and funding needs among Sweden’s municipalities and regions. The increase also demonstrates Kommuninvest’s increased  competitiveness. At the end of 2019, Kommuninvest had a total of 964 (945) active borrowers.

Strengthened market position

Through Kommuninvest and other capital markets, Sweden’s municipalities and regions were able to efficiently meet their funding needs in 2019. Kommuninvest offers loan products with capital tied up for shorter or longer periods, based on fixed or floating interest rates, as well as loans of complete or partial termination.

At the end of the year, lending amounted to SEK 406.5 (353.9) billion in nominal terms, an increase of 15 (15) percent. Kommuninvest’s competitiveness, expressed as the percentage of accepted bids, has remained strong. The acceptance rate for submitted bids was 99 (99) percent.

Of the agreed lending for the year, that is, new loans and renegotiations of existing loans, 88 (85) percent were loans with capital tied up for more than one year and 12 (15) percent with capital tied up for one year or less. Loans with capital tied up for one to three years accounted for 20 (23) percent of volumes.

At the end of 2019, Kommuninvest’s lending portfolio consisted of 47 (44) percent loans with fixed interest and 53 (56) percent loans with variable interest rates.

Increased volumes of Green Loans

The volume of Green Loans granted, financing municipal investment projects promoting the transition to low carbon emissions and sustainable growth, increased over the year.

At the end of 2019, SEK 63.1 (39.5) billion in Green Loans had been granted to 346 (232) projects and to 150 (109) municipalities and regions. More information about Green Loans can be found here.

 

Number of members and lending volume

1987-2019

 

 

Kommuninvest and the Stockholm School of Economics developed a leading edge training programme

In the spring of 2019, a course developed by Kommuninvest and Stockholm School of Economics was given for the first time, focusing on financial analysis of local government operations. There were 22 participants from five different municipalities: Karlstad, Kristianstad, Luleå, Skellefteå and Skövde.

The four-day course, proceeded from the core concepts, principal relationships and the analytical framework within the subject areas of accounting and financial analysis. Against this background, issues were addressed involving local government investment analyses, efficiency requirements, strategic choices in financing investment needs and the type of long-term financial sustainability needed by local government authorities.

What the five municipalities participating in the course that first time shared was that they face major investment needs, involving several different strategic choices. For this reason, part of the course addressed investment control and the financing options available. Central to this was also a discussion of the different models for coordinating investment needs within a municipal group.

By bringing together municipalities with similar conditions and challenges, the stage was set for an instructive dialogue. A key component of the course was that each  municipality brought along a practical investment case from its own operations. The teachers analysed the decision-supporting data and strategic considerations, and the participants exchanged experiences.

“We hope that this training initiative will help people with different qualifications and assignments, and who work with issues of local government finance, to collaborate more effectively in the future. This applies both to collaborations between elected representatives and officials, as well as between those in power and those in opposition. The hope is that the municipalities will gain a sustained effect from this investment in education, benefiting as much as possible from the financial resources that have been made available,” says Johan Nordlund, who heads the programme at the Stockholm School of Economics.

This first course served as a trial run. Kommuninvest now wants to continue developing the concept, to be able to offer the course to additional municipalities in the future.