On Friday 7 May 2021, KommuneKredit priced a new GBP 400m benchmark. This transaction was KommuneKredits first GBP transaction since 2018.
KommuneKredit has issued its first GBP transaction in three years. 19 investors divided into different investor types participated in this new issue. Order books were in excess of GBP 300m just one hour after the official announcement. The strong investor
Summary
▪ Lending and leasing increased by DKK 7 billion to DKK 192 billion.
▪ At DKK 440 million, net interest income was slightly higher than full-year expectations.
▪ Pre-tax profit for the year amounted to DKK 278 million, while comprehensive income for the year was DKK 218 million, against DKK 441 million in 2019. The difference was due to lower value adjustments.
▪ Common Equity
Based on a very solid and diverse order book, KommuneKredit priced the first Euro benchmark of the year on Wednesday 24 February 2021. At the same time, this is KommuneKredit’s largest 10-year bond and the largest Euro issuance since March 2018.
On Wednesday 24 February 2021, KommuneKredit entered the market with the first Euro benchmark of 2021, raising EUR 1bn with a strongly oversubscribed 1
As one of six priorities, sustainability plays an integral part in KommuneKredit’s new strategy. The association wants to integrate sustainability in the business model to support its members’ – the Danish municipalities and regions – climate ambitions and to accommodate the investors’ growing interest in sustainability.
KommuneKredit is undergoing a transformation to future-proof the associ
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 link be
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 DKK 3
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
