Kommuninvest

kommuninvest

 

Sector Agency
Ratings AAA/Aaa
Rating outlook Stable/Stable
Risk weighting 0%
2013/2014 funding volume US$14.8BN/US$11-14BN
AUD volume 2013/2014 (full year/to Jul 31) A$90M/A$100M
USD benchmark size US$1.5BN
EUR benchmark size N/A
SEK benchmark size SEK3BN
RBA repo eligible? Yes
RBNZ repo eligible? n/a

About Kommuninvest
Kommuninvest is a local government funding agency owned by Swedish local governments. It is responsible for the coordinated procurement of financing by Swedish municipalities and county councils. Kommuninvest is owned by 280 municipalities and county councils – out of 310 in total – with the purpose of supporting their financial operations through secure and cost-efficient financing, financial advice, skills development and coordination.
Kommuninvest only lends to members of Kommuninvest Cooperative Society, or, against guarantees, to companies in which members are majority shareholders, to municipal foundations and to municipal associations.

Risk policy
Kommuninvest aims to keep risk exposure low. The fundamental principle applied in managing risk is that the terms for borrowing and lending shall be equal in terms of risk. The intention is to eliminate the risks that arise in operations.

Funding strategy
Kommuninvest’s lending is financed through short- and long-term borrowing programmes in the national and international capital markets. Kommuninvest strives to maintain a presence in established capital markets, to be a well-known and reliable partner, and to build long-term relationships with investors and securities dealers.
Kommuninvest maintains a high degree of flexibility in its borrowing, allowing the issuer to meet investors’ needs for securities and providing broad access to various debt capital markets.
The funding target for 2014 is US$11-14 billion. The largest borrowing programmes are the Swedish benchmark bond programme, the EMTN programme, the ECP programme, the domestic CP programme, and the Kangaroo/Kauri programme.

AUD and NZD activity
Kommuninvest debuted in the Kangaroo bond market in 2011. It has no outstanding Kauri bonds.

KOMMUNNIVEST 1

KOMMUNNIVEST 2

 

For further information please contact:
Anders Gånge
Head of Funding and Treasury
+46 10 470 87 12
anders.gange@kommuninvest.se

Carl-Henrik Arosenius
Head of Investor Relations
+46 10 470 88 81
carl-henrik.arosenius@kommuninvest.se
www.kommuninvest.org

 

 

 

 

 

 

Weekly update

Latest Issue 2014 November

Lastest Issue

Exclusive surveys of Australian fixed-income investors and corporate borrowers. Investor insights into CDS usage and the volatility environment. NZ securitisation. Tier-one price action. Reassessing the semi-government risk-return equation.