In what was a volatile year for the international financial markets in 2022, KommuneKredit delivered strong profit thanks to value adjustments. KommuneKredit provided loans and lease agreements for DKK 28 billion to support, for example, the green transition in local Danish communities.
In 2022, KommuneKredit disbursed more than 700 new loans and entered into almost 3,000 new lease agreements,
On Thursday 12th January, KommuneKredit priced a new EUR 500 million (no-grow) Jan-35 benchmark.
The orderbook officially opened on Thursday the 12st of January at 09:00 CET, with an initial spread guidance of MS+21 bps area.
Despite the non-benchmark maturity, the book was almost full at first book update, and the re-offer spread was fixed at MS+21bp. At noon CET the book closed with a good
Summary
▪ Profit before tax and value adjustments amounted to DKK 65 million, while comprehensive income for the 1st half of 2022 was DKK 468 million against DKK 233 million in the 1st half of 2021. The change is mainly due to value adjustments of DKK 535 million against DKK 190 million in the 1st half of 2021.
▪ At DKK 187 million, net interest income was in line with expectations.
▪ Net
On Tuesday 30th August, KommuneKredit priced a new EUR 1 billion (no-grow) Sept-32 benchmark.
The orderbook officially opened on Tuesday the 30th of August at 09:10 CET, with an initial spread guidance in the MS+6bps area.
The transaction enjoyed a strong reception from the outset, and on the back of a smooth book building process with orders in excess of EUR 2 bn final terms were announced
On Monday 30th May 2022 at 13:01 CET, KommuneKredit mandated four banks to arrange a Global Investor Call to present its recently updated Green Bond Framework, announcing that a EUR 500m (no grow) short 7-year green benchmark would follow, subject to market conditions.
The orderbook officially opened on Tuesday the 31st of May at 08:52 CET, with an initial spread guidance of MS-3bps area.
O
Mayor of Ringsted Municipality, Henrik Hvidesten, takes over the chairmanship of KommuneKredit’s Board of Directors after former mayor of Herning, Lars Krarup. Together with the Board of Directors, he will help futureproof KommuneKredit’s financing of public investments in Danish local communities - including the green transition.
Today, KommuneKredit’s Board of Directors has held its inaugural
KommuneKredit looks back on a satisfactory 2021 where e.g. extraordinary financing to the regions and loans to the district heating sector resulted in an increase in total lending by DKK 8.7 billion. At the same time, the company has strengthened its sustainability efforts to further support the sustainable transition in the Danish local communities.
A loan to the Museums of Varde that establis
Today, KommuneKredit launches an updated and strengthened Green Bond Framework. With this Green Bond Framework, KommuneKredit aims to set an even higher standard for its green financing as well as its support of the local green transition in Denmark.
KommuneKredit has high ambitions when it comes to supporting the local green transition of its members through sustainable finance offerings. Sin
On Thursday 13th January, KommuneKredit priced a new USD 1 billion (no-grow) Dec-23 benchmark.
KommuneKredit announced the first 2-Year USD benchmark in 2022, a USD 1 billion (no grow) Dec-2023 benchmark at 13.30pm UKT on Wednesday afternoon. Initial-price-thoughts of SOFR MS+14bps area were released alongside the mandate.
The transaction enjoyed a strong reception from the outset, and the o
KommuneKredit’s Board of Directors has elected Susanne Kure as a new independent member of the Board for the next election period commencing June 1, 2022.
KommuneKredit’s Board of Directors consists of 10 members of which 2 are independent and must possess qualifications within accounting, auditing, financial or risk management.
Susanne Kure holds an MSc in Auditing and Accounting and
On Wednesday 10 November 2021, KommuneKredit launched and priced a new 8-year EUR 750 million issue with a reoffer spread of MS -1 bp, which equated to 44.9 bps over the DBR 0 % August 2029 reference. The transaction priced with a 0 % annual coupon, a reoffer price of 99.872 % and 0.016 % reoffer yield.
The orderbook exceeded EUR 1.7bn with nearly 70 investors involved and the final spread
In a new report, the Danish independent research and analysis centre VIVE assesses that the Danish model for local government borrowing through KommuneKredit – the credit institution for local and regional authorities in Denmark – performs well in relation to the set considerations and criteria.
Danish local governments, i.e. municipalities and regions, undertake many important tasks in the Dan
