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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
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
Summary▪ Pre-tax profit amounted to DKK 299 million.▪ Lending and leasing decreased by DKK 1.3 billion to DKK 191.2 billion from year-end 2020 as an increase in net lending of DKK 3.8 billion was countered by a decrease in value adjustments of DKK 5.1 billion.▪ Net interest income amounted to DKK 180 million against DKK 221 million in the same period last year.▪ Comprehensive incom
The credit rating agency, Standard & Poor’s, has announced its annual credit rating of KommuneKredit in which they affirm the company’s AAA rating. The outlook is stable.In its credit rating, Standard & Poor’s places special emphasis on: Very high credit quality in the municipal and regional sector, which is expected to continue despite the economic uncertainty in the lig
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
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
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
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