Kommuninvest

Swedish agency Kommuninvest has said that it will issue more green bonds than previously expected, alongside a rise in its funding needs for 2019.

This week's scorecard looks at the progress Nordic agencies have made at the end of June.

Swedish agency Kommuninvest has mandated three banks to run its forthcoming Swedish krona green bond. The issue will be its seventh green bond, and its fifth in Swedish kronor.

Guarantor: Swedish local government members

Spreads over Treasuries on supranational and agency trades shrank to record low levels this week, with the World Bank raising debt just a hair’s width wide of US government debt. Market watchers reckon the good times for issuers are here to stay for the foreseeable future.

Dollar issuers in the primary public sector bond market are paying some of their tightest ever spreads over US Treasuries, and investors say this is unlikely to change anytime soon as a “wall” of money floods into the market.

NRW.Bank has joined the list of dollar issuers this week, as the beneficial euro/dollar swap spread for euro funders and tight spread over Treasuries for dollar names proves an attractive lure.

Tokyo Metropolitan Government and Kommuninvest released initial price thoughts on dollar trades on Monday, as investor demand in the currency remains high despite a run of deals last week.

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

Guarantor: Swedish local government members

Kommuninvest built out its Swedish krona green curve benchmark this week with its longest dated bond in the format. There is, however, an expectation that this Skr3.5bn ($382.3m) five year green bond could be the curve’s furthest extent.

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