Kommuninvest

A European agency has firmed up plans to enter the green bond market, with an inaugural deal set for later this year.

This week's scorecard features updates on the funding progress of selected Scandinavian agencies. Read on to see which are over 90% done for the year.

Rentenbank and Washington’s Inter-American Investment Corporation are the latest issuers out with mandates in dollars this week, as well-funded issuers look for price over size.

Kommuninvest mandated banks for a five year dollar benchmark bond on Monday, as Asian Development Bank closed books on a $1bn four year.

This week's scorecard features updates on the funding progress of selected Scandinavian agencies. Read on to see which are over three-quarters done for the year.

Kommuninvest is set to add another product to its funding toolkit from the autumn: exchangeable bonds. The Swedish agency is also planning an active summer, hoping to benefit from attractive funding costs and a lack of competing supply.

Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.

The dollar market went from strength to strength this week, with a trio of issuers gliding seemingly effortlessly through tightly priced deals. While this may signal to other SSAs that it’s time for some aggressive pricing of their own, things might not be that simple.

Swedish municipality finance agency Kommuninvest sailed through its first dollar benchmark of 2014 on Tuesday, selling three year debt inside of its secondary levels. The issuer’s rarity and a positive spread over swaps allowed it to achieve an oversubscription, in spite of the aggressive level.

Kommuninvest mandated for its first dollar benchmark since October 2013 on Monday, a three year deal. Several other Scandinavian issuers are looking at dollar deals according to syndicate bankers, including the Nordic Investment Bank and Swedish Export Credit Corporation (SEK).

This week's scorecard features Scandinavian agencies, with Kommunalbanken and Municipality Finance getting their funding programmes off to a strong start over January. Next week's scorecard will provide updates on CEE sovereigns' funding.

Swedish local government financing agency Kommuninvest plans to raise 45% of its funding requirement in its domestic currency in 2014.