On Thursday 21 January, KommuneKredit priced a USD 1 billion benchmark issue with the tightest spread to date. The issue is a good omen for 2021 during which KommuneKredit expects to issue bonds for more than DKK 35 billion in strategic core markets in EUR, USD and DKK.
The order books closed with orders of more than USD 2.4 billion, when KommuneKredit priced its first benchmark of the year –
The credit rating agency, Moody’s Investor Service, has published their Update to Credit Opinion confirming KommuneKredit’s Aaa rating and stable outlook. The rating is an indication that Moody's still considers KommuneKredit's financial conditions to be strong and that an investment in KommuneKredit's bonds remains a safe investment.
Moody’s highlights the following:
The support offered by
SUMMARY
▪ Lending and leasing increased by close to DKK 6 billion to DKK 191 billion, of which DKK 4 billion was due to new loans and leases in the period.
▪ Net interest income decreased to DKK 221 million against DKK 250 million in the same period last year, which is in line with expectations at the end of 2019.
▪ Pre-tax profit amounted to DKK 186 million.
▪ Comprehensive income for
For the fourth time since 2017, KommuneKredit is issuing green bonds. This time the Danish credit association issues bonds in the amount of EUR 500 million with a term to maturity of 20 years. The funds from the green bonds, which are bought by investors from all over the world, support the financing of local green transition in Denmark.
For more than 120 years, KommuneKredit has been a lin
Moody’s Investor Service has published their Update to Credit Opinion confirming KommuneKredit’s Aaa rating and stable outlook.
Moody’s highlights the following:
the support offered by the joint and several guarantee provided by its RLG members,
the agency's close association with the central government,
its public policy mandate and dominant franchise in Denmark,
prudent financial managem
The credit rating agency, Standard & Poor's, has announced its annual credit rating of KommuneKredit in which they confirm KommuneKredit's AAA rating. The outlook is stable.
In particular, Standard & Poor's emphasizes:
Very high credit quality in the municipal and regional sector, which is expected to continue despite the economic uncertainty in the light of COVID-19.
Strong and imp
KommuneKredit’s Green Bond Committee has approved new green loans in the amount of DKK 3.1 billion. Including these recent approvals, which emphasizes the development of the green transition in the Danish municipalities and regions, the committee has approved green loans for a total of DKK 22.4 billion.
Last week, KommuneKredit’s Green Bond Committee approved green loans in the amount of D
The local and regional investments in green transition in Denmark, that are among others financed by means of KommuneKredit’s green bonds, are expected to contribute to an annual CO2 reduction of 665,000 tonnes. This is equivalent to the annual emission of approximately 35,000 Danish citizens. KommuneKredit launched its inaugural green bond in 2017, and by year end 2019 the value of disbursed loan
On 3 June 2020 KommuneKredit completed the issue of a new 5-year USD 1bn benchmark and a switch and tender offer for existing investors in two outstanding USD benchmarks.
The switch and tender announcement for the two outstanding USD benchmarks was published on 2 June 2020 alongside the mandate for a new 5-year USD benchmark. Books for the new benchmark was officially opened on 3 June 2020. Bas
KommuneKredit has today announced a new 5-year fixed rate note issue in USD. Together with the new offering of bonds KommuneKredit will be offering existing investors a buyback option in two bond issues maturing in January 2021 and June 2021 respectively.
The terms and conditions for the switch and tender offer is stated in the announcement to the Luxembourg Stock Exchange. Read the announcemen
Responsibility is an integrated part of KommuneKredit's business model. The association supports local development and growth by funding local investments in construction and infrastructure, including the green transition of the society. This is done on a nonprofit basis and on equal terms regardless of location.
The Danish municipalities and regions are in the process of planning and implement
SUMMARY
▪ Lending and leasing increased by DKK 8 billion to DKK 185 billion.
▪ Net interest income amounted to DKK 496 million in 2019 against DKK 441 million in 2018, which was in line withexpectations at the half year 2019.
▪ Pre-tax profit amounted to DKK 596 million partly due to positive value adjustments of DKK 227 million.
▪ Comprehensive income for the year amounted to DKK 441