About Our Funding Operations
Kommuninvest finances investments in welfare within Sweden’s local government sector. A well-functioning funding operation and long-term investor relations are essential to fulfilling our mission.
Summary
- Kommuninvest was established in 1986
- We are 100% owned by Swedish municipalities and regions
- Explicit, irrevocable, unlimited, and joint guarantee from the owners
- We are Sweden’s largest lender to municipalities and regions
- No credit losses ever in the loan portfolio
- Credit rating: AAA/Aaa with stable outlook from Moody’s and Standard & Poor’s
- Our climate target is to achieve net-zero financed greenhouse gas emissions by 2045
Funding
Kommuninvest’s funding forecast for 2025, for maturities over 12 months, is SEK 150–170 billion.
The objective of Kommuninvest’s funding is to provide cost-efficient and stable financing to our members.
The funding strategy is based on the following principles:
- Long-term relationships with investors and banks
- Regular and public issuance in three strategic markets: SEK, USD, and EUR
- Green, social and conventional bonds
- Matching maturities between assets and liabilities
- Conservative risk management
Risk Management
Kommuninvest’s mission is to ensure access to stable and efficient financing for Sweden’s municipal and regional sector. While our business model entails exposure to certain risks, our owners have a low risk appetite. The purpose of our risk management is to minimize—or ideally eliminate—those risks to enable sustainable growth.
We apply maturity matching between assets and liabilities and do not engage in speculative trading.
For more information, please refer to our Pillar 3 Report on risk and capital adequacy.
Investor Security
Key facts about Kommuninvest-issued bonds:
- 0% risk weight (Basel)
- Level 1 HQLA under LCR (Basel)
- Credit rating: AAA/Aaa
- Eligible as collateral in repo transactions with the Riksbank, the Federal Reserve, and the ECB
- Accepted as collateral by London Clearing House (LCH) and Nasdaq OMX
ESG Documentation
Our ESG document library includes policies, guidelines, and documentation related to our sustainability and ESG (Environmental, Social, and Governance) efforts.
About Sweden
Sweden (AAA/Aaa/AAA, stable outlook) is the largest country in the Nordic region and the fifth largest country in Europe. It is a parliamentary democracy with a population of 10.6 million (2024), and has been a member of the European Union since 1995, and a full NATO member since March 2024. The national currency is the Swedish krona (SEK).
Sweden’s economy is open, diversified, and built on strong fundamentals. Public debt levels are among the lowest in Europe, and the country ranks seventh globally in the Human Development Index.
Sweden has a well-developed welfare system that provides universal healthcare, childcare, and education through local authorities - municipalities and regions. Sweden’s long-term climate goal is net-zero greenhouse gas emissions by 2045. Municipalities and regions play a vital role in achieving this target.
The Swedish local government sector enjoys a high degree of autonomy, which is protected by the national constitution. Municipalities and regions have the right to make independent decisions within their areas of responsibility, including taxation, budgeting, funding, and service delivery. This constitutional self-governance is a cornerstone of Sweden’s political system and enables long-term, effective public sector development.
Contact us
NameTobias Landström
RoleHead of Debt Management
NameMärta Petrini
RoleInvestor relations