By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Kommuninvest sold SEK 5 billion of green bonds due May 2020 on Tuesday, breaking the previous SEK 2.5 billion krona-denominated green bond deal record, according to a company news release.
The company announced plans for a SEK 3 billion to SEK 5 billion green bond deal, its first such krona-denominated deal denominated, on Monday and settled on SEK 5 billion after the oversubscribed order book amounted to over SEK 13 billion.
SEB and Swedbank are the joint lead managers.
Investors in the bond included AP7, Folksam, KfW and SPP Storebrand.
Proceeds will finance lending to Swedish municipal investment projects in renewable energy, energy efficiency, green buildings, public transport and water management.
Kommuninvest said it has built up a green loan book amounting to SEK 14.5 billion, committing funds to some 60 investment projects in 40 Swedish municipalities and county councils/regions. Renewable energy and green buildings account for the majority of projects in the portfolio, at 43% and 39%, respectively.
The previous record for the largest green bond in krona was a deal from Fortum Varme in May 2015.
Kommuninvest offers funding to municipalities of Sweden and is based in Orebro.
| Issuer: | Kommuninvest
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| Amount: | SEK 5 billion
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| Description: | Green bond
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| Maturity: | May 2020
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| Joint lead arrangers: | SEB and Swedbank
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| Trade date: | Oct. 18
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