KommuneKredit

KommuneKredit has announced that it will begin purchases of two of its outstanding dollar bonds due to mature in 2021. At the same time, investors will be offered the chance to purchase new five year bonds.

This week's scorecard looks at the progress Nordic agencies have made in their 2020 funding programmes in early May.

Danish agency KommuneKredit made one of its infrequent visits to the Swedish kronor market on Wednesday. With many issuers preferring the short end of the market due to volatility from the coronavirus pandemic, the agency instead opted to tap a pocket of demand at the long end of the curve.

This week's scorecard looks at the progress Nordic agencies have made in their 2020 funding programmes at the start of the second quarter.

The first scorecard of 2020 looks at the progress Nordic agencies have made in their funding programmes at the start of March.

KommuneKredit has recruited a senior treasury manager to focus on the Danish agency’s funding and derivatives business.

Bank Nederlandse Gemeenten and Kommuninvest followed in the footsteps of KfW as they included their environmental, social and governance (ESG) ratings in the terms sheets for socially responsible bonds this week, with the latter selling the largest single-issue green bond from a Nordic public sector borrower.

All maturities are open for deals in the euro market, thanks to a widening in benchmark spreads over the past few weeks. SSA issuers are taking advantage of the conditions by issuing in a range of tenors.

This week's scorecard looks at the progress Nordic agencies have made in their funding programmes at the start of November. Some of the issuers have also set their funding targets for 2020.

Guarantor: All Danish municipalities and regions

KommuneKredit failed to set the market alight with the first euro syndicated public sector bond since mid-July, excluding deals from German Laender. The Danish agency only managed to sell €500m for the 11 year benchmark and was unable to tighten the spread during pricing.

Danish agency KommuneKredit mandated banks on Monday for its first euro-denominated bond of the year and the first euro syndicated public sector bond since mid-July, excluding German regions.