SEK Benchmark Programme
The Swedish Benchmark Program is a medium-term benchmark program in SEK for maturities between one and ten years. This programme provides the Swedish fixed income market with an attractive complement to government bonds and covered bonds. Kommuninvest's ambition is for the Swedish benchmark programme to be the largest of Kommuninvest's funding programmes.
Benchmark loans
Kommuninvest's overall goal is for each new outstanding bond to reach a benchmark size of SEK 3 billion as soon as possible. The subsequent debt securities issued during the term of the bond loan are issued through increases. The terms and conditions, except for the yield given, will be identical to the debt securities issued at the first time of issue.
Buy-back facility in the Swedish Bond Program
Kommuninvest offers a buy-back facility to market makers. This applies to outstanding bonds under the Swedish Bond Programme with a remaining maturity of less than 12 months.
Repurchases will be offered on an ongoing basis according to predetermined terms. Unless otherwise communicated, the repurchases are carried out at interest.
Outstanding bonds
Name | ISIN | Maturity | Coupon | Outstanding volume (SEK) |
---|---|---|---|---|
K2410 | SE0010469205 | 2024-10-02 | 1,00% | 47 316 000 000 |
K2505 | SE0011414010 | 2025-05-12 | 1,00% | 49 650 000 000 |
K2602 | SE0013745452 | 2026-02-04 | 0,75% | 45 675 000 000 |
K2611 | SE0012569572 | 2026-11-12 | 1,00% | 58 950 000 000 |
K2706 | SE0016829048 | 2027-06-15 | 0,5% | 46 250 000 000 |
K2805 | SE0015660139 | 2028-05-12 | 0,75% | 55 700 000 000 |
K2903 | SE0018689523 | 2029-03-12 | 3,00 % | 26 750 000 000 |
K2911 | SE0019764143 | 2029-11-12 | 3,25% | 13 500 000 000 |
K3006 | SE0021923786 | 2030-06-12 | 3,25% | 4 500 000 000 |
|
|
| Total outstanding volume | 348 291 000 000 |
Date 20/06/28
Programme documentation
Prospectus
Listing document 2024-04-29 Pdf, 187.7 kB.
Listing document 2023-04-28 Pdf, 184.1 kB.
Listing document 2022-04-29 Pdf, 260.4 kB.
Listing document 2021-05-11 Pdf, 204.6 kB.
Listing document 2020-05-11 Pdf, 201.6 kB.
Listing document 2019-05-14 Pdf, 205.2 kB.
Listing document 2018-05-14 Pdf, 231.4 kB.
Supplement to the Base Prospectus 2017:2 Pdf, 2.8 MB.
Supplement to the Base Prospectus 2017:1
Base Prospectus 2017-05-12
Supplement to the Base Prospectus 2016:2
Supplement to the Base Prospectus 2016:1
Base Prospectus 2016-05-13
Supplement to the Base Prospectus 2015-05-06
Base Prospectus 2015-05-06
Supplement to the Base Prospectus 2015-05-06
Supplement to the Base Prospectus 2015-03-23
Supplement to the Base Prospectus 2014-09-12
Base Prospectus 2014-05-06
Other documents
Guarantee total
Issue procedure
- Kommuninvest's weekly borrowing in the Swedish benchmark program will be managed exclusively through Bloomberg's auction platform (AUPD).
- On Fridays the week before the auction, Kommuninvest will mediate the volumes offered for each bond. Depending on the company's borrowing needs in each maturity, volumes will vary and can sometimes be zero.
- The auction starts on Wednesday at 09.00. Bids are placed as a spread against matched maturity swap expressed in basis points (BP). Bids are placed via resellers in the benchmark program.
- The auction closes at 10.00 a.m. Results are normally announced within 15 minutes of closing. For retailers, a summary of the auction will be available on Bloomberg.
- Kommuninvest reserves the right to reject bids that are deemed to be unnecessarily expensive. There are no absolute rules for refusal. In a volatile and uncertain market, larger deviations from target market prices can be accepted.
Financial calendar
2024
August
7
Auction – Potential bonds: K2602, K2706, K2903, K3006
- 2024-08-07 09.00
This is a preliminary calendar. If conditions change, dates might be adjusted.
2024
August
14
Auction – Potential bonds: K2611, K2805, K2911
- 2024-08-14 09.00
This is a preliminary calendar. If conditions change, dates might be adjusted.
2024
August
21
Auction – Potential bonds: K2602, K2706, K2903, K3006
- 2024-08-21 09.00
This is a preliminary calendar. If conditions change, dates might be adjusted.