Kommuninvest

A pair of SSA borrowers hit screens on Wednesday for green euro benchmarks. However, one has decided that its marketing process will be entirely conducted over the phone.

Swedish issuer Kommuninvest is preparing to launch its first deal of 2020 — a five year Swedish krona note.

Guarantor: Swedish local government members

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.

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.

Kommuninvest has added euros to its strategic funding markets for benchmark bonds alongside Swedish krona and dollars.

Guarantor: Swedish local government members

Kommuninvest kicked off the dollar market this week with a $1.25bn blowout, despite it being at record tight levels over Treasuries, according to a banker on the deal. Following on from Kommuninvest’s deal, a wide range of SSAs look to print across the curve, including rare issuer IDB Invest with its five year dollar bond debut.

The Province of British Columbia has weathered volatility from the fallout of last week's meeting of the US Federal Reserve to return to the dollar market for the first time in four years. Another rare SSA issuer, IDB Invest, also plans a return to the dollar market, with investor calls set up for this week ahead of its five year debut.

This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes by the middle of September.

Swedish agency Kommuninvest doubled the size of its June 2023 green bond on Tuesday through a Skr3bn ($309.8m) tap. The tap was issued with a negative yield — rare for the Swedish krona market — and is the issuer’s first negative yielding green print since October 2016.

This week's scorecard looks at the progress Nordic agencies have made in their 2019 funding programmes.