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Commentary & Deal Flow

PRICED: Kommuninvest €1.25bn 4yr Green Sr Unsec; MS+4bp

IGC European Market: Deal Flow - SSA

Issuer

Term

Coupon

Maturity

Size

Ranking

Type

Price

Yield

Guidance

Spread

GDNC-PXD

Kommuninvest

4yr

3%

20-Feb-30

€1.25bn

Sr Unsec

Fixed

99.974

3.010%

MS+6a

MS+4

-2


Reoffer: 4yr: MS+4bp / 99.974 / 3.010%
Benchmark: 4yr: DBR 0 15-Feb-30 @ 90.280 / B+23.8bp / HR 106%

Launched: 4yr: €1.25bn @ MS+4bp - Book in excess of €2.6bn (incl. €250m JLM interest)
Spread set at: 4yr: MS+4bp - Book in excess of €2.2bn (incl. €250m JLM interest)
Guidance: 4yr: MS+6a


  • Issuer: Kommuninvest i Sverige Aktiebolag (publ)
  • LEI Code: EV2XZWMLLXF2QRX0CD47
  • Issuer Rating: Aaa/AAA (Moody's/S&P)
  • Format: Senior Unsecured, Reg S Registered, RW 0%
  • Size: €1.25bn
  • Settlement: 27-May-26
  • Maturity: 20-Feb-30
  • Coupon: 3%, Fixed, Annual, ACT/ACT ICMA (short first on 20-Feb-27)
  • Final Spread: MS+4bp
  • Reoffer: 99.974 / 3.010%
  • DBR spread: +23.8bps vs. DBR 0 15-Feb-30 (90.280 / HR 106%)
  • Denominations: €100k x 1k
  • Listing: NASDAQ Stockholm
  • Settlement: Euroclear and Clearstream, Luxembourg (Regulation S Global Note)
  • Law: English
  • Docs: Issuer’s EMTN Programme
  • ISIN: XS3385516060
  • Target Market: Eligible Counterparties, Professional Clients and Retail Clients (all distribution channels)
  • Bookrunners: Barclays / Citi / Credit Agricole CIB / Danske Bank (B&D/DM)
  • Timing: Priced. TOE: 13:04 LDN / 14:04 CET. FTT: 13:20 LDN / 14:20 CET