EAPB member Kommuninvest issues USD 1.25 billion in new benchmark bond
28 October 2020Kommuninvest today issued USD 1.25 billion in a new bond within the USD benchmark programme. Investor interest was strong. The order book included 64 investors. The bid-to-cover ratio was 2,4. The bond, which matures on 20 July 2022, was priced 2 basis points above mid-swaps and 9,4 basis points above corresponding US Treasuries.
This was Kommuninvest’s fourth USD transaction in 2020. So far, a total of USD 4.75 billion has been issued within this programme. For Kommuninvest, the US market continues to present favourable conditions. The pricing is well in line with the SEK market.
– This was yet another successful transaction in the USD market. Thanks to the strong investor interest, pricing could be tightened by 3 basis points, to 2 basis points above mid-swaps. I am glad to see that we have such broad support from leading global investors, says Christian Ragnartz, Head of Debt Management at Kommuninvest.
Kommuninvest has so far borrowed around SEK 112 billion in 2020. Since the latest revision earlier in October, the funding forecast for this year is SEK 130 billion.
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: +46 705 86 78 51
e-mail: tobias.landstrom@kommuninvest.se
David Ljung
Head of Communications
tel: +46 73 068 45 45
e-mail: david.ljung@kommuninvest.se