Earlier today, rating agency Standard & Poor’s lowered its long-term issuer credit rating on KommuneKredit from AAA to AA+ (with stable outlook), while affirming its short-term credit rating at the highest level, A-1+.
Standard & Poor’s announced on 22 May 2018 that it had placed KommuneKredit “Under Criteria Observation” due to a change in the agency’s criteria for public-sector financ
Today KommuneKredit issued a EUR 750 million green bond with a 10-year term to maturity. KommuneKredit’s green bonds finance more than 200 local green projects across Denmark. The eligibility of the projects as a basis for KommuneKredit’s green bonds is assessed by a Green Committee. There are green projects from Frederikshavn to Rødby and from Esbjerg to Bornholm, and they include, among other th
On 4 June 2018 KommuneKredit announced a new fixed rate USD benchmark maturing on 15 November 2021. In addition, KommuneKredit offered to buy back two existing bonds with maturities on 27 August 2018 and 15 January 2019 respectively. The 4 banks, Toronto Dominion, Deutsche Bank, Scotiabank and Bank of Amerika Merrill Lynch, were mandated as joint lead managers on the new bond deal as well as the b
The Board of Directors for KommuneKredit has elected its officers for the period 1 June 2018 to 31 May 2022. The elected officers are:
Mayor Lars Krarup, Municipality of Herning, Chairman
Mayor Thomas Lykke Pedersen, Municipality of Fredensborg, Vice-chairman
Mayor Hans Toft, Municipality of Gentofte
Mayor Erik Nielsen, Municipality of Rødovre
Mayor Mikael Klitgaard, Municipality of
KommuneKredit is pleased to present the first edition of its Green Bond Impact Report. We launched our inaugural green bond in June 2017.
This made KommuneKredit the first Danish financial institution to issue green bonds in accordance with the International Capital Markets Association’s (ICMA) Green Bond Principles (GBP).
We also released the Assurance Statement on KommuneKredit’s Green Bon
KommuneKredit announced on 16 April 2018 a new fixed rate GBP benchmark with maturity in October 2022 combined with a buyback in KommuneKredit’s GBP bond with maturity in December 2018. The 3 banks NatWest, Nomura and RBC were mandated as joint lead managers, and RBC was appointed billing and delivery bank for the buyback. The bond issue was offered with an price indication of UK Treasuries + 35 b
On Tuesday 6 March 2018 KommuneKredit issued the second EUR benchmark of 2018.
The bonds have a coupon of 0.25% and matures on 15 May 2023. The price of the bonds is based on mid-swaps minus 13 bps. The books opened at mid-swaps minus 11 bps and the order book developed strongly within a few hours. The final price was set at mid-swaps minus 13 bps.
More than 70 investors participated and ord
The Board of Directors of KommuneKredit have today approved the Annual Report for 2017.
› PRELIMINARY ANNOUNCEMENT OF FINANCIAL STATEMENTS, 2 MARCH 2018
SUMMARY
▪▪ Profit for the year before value adjustments and tax amounted to DKK 511 million against DKK 550 million in 2016.
▪▪ Comprehensive income for the year was DKK 489 million against DKK 497 million in 2016.
▪▪ Lending increa
On Tuesday 16th January 2018, KommuneKredit issued its first Euro benchmark bond of 2018. The issue carries an annual coupon of 0.50% and has a maturity date of 24 January 2025. The bond was priced at a spread of mid-swaps minus 10bps. The initial price guidance was set at mid-swaps minus 8 bps and was quickly revised to mid-swaps minus 9 bps 30 minutes after. The momentum continued unabated, with
KommuneKredit opened the international capital markets by issuing the first benchmark of 2018 – a 1bn 3-year Fixed Rate issue in USD.
From the announcement on 2 January 2018 to the books officially closed on 3 January at 11 am Copenhagen time there was a great demand for the issue. The bond started with an indication on mid swaps + 9 area, but after the order book grew to just below USD 2bn., K
KommuneKredit has today announced an offer for a new 3-year Fixed Rate Note issue denominated in USD under its EUR 30bn Euro Medium Term Note Programme. The offer is expected to take place on 3 January 2018.
In connection with the offering of the new note KommuneKredit will simultaneously offer to buy back notes in three existing issues denominated in USD.
Read the press release and the publ