Kommuninvest issues $1.5 bn on record demand
Swedish local governments’ funder saw orders worth $3,5 bn in 3-year USD issue with 2.625 percent coupon.
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The news, which is deeply detailed in a Kommuninvest pressrelease, is picked up by news site Realtid on the Thursday.
Longest since 2014
Set to mature in September 2022, Kommuninvest’s issue on 15 January was its longest-maturity USD bond since a 5-year transaction in 2014.
For Kommuninvest, the order book at $3.5 bn was its largest ever.
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Rubbed 3 bps off the initial thought
The initial price thought (IPT) was presented to the market at +15 bps vs mid-swaps, but on the back of immediate orders worth $2.9 billion books could close in Europe within 30 minutes at a spread of +12 bps.