Kommuninvest launches $500 million five-year green bonds

By Marisa Wong

Los Angeles, Nov. 21 – Kommuninvest I Sverige AB has launched its benchmark offering of $500 million five-year green bonds (ISIN: XS2725836097), according to a market source.

The spread was set at SOFR mid-swaps plus 47 basis points. Guidance was in the SOFR mid-swaps plus 48 bps area. Initial talk is in the SOFR mid-swaps plus 49 bps area.

Final books closed in excess of $1.75 billion. When books opened on Tuesday, indications of interest totaled more than $875 million. Books totaled over $1.3 billion when the spread was set.

Bookrunners BNP Paribas, Danske Bank and Goldman Sachs took indications of interest on the no-grow deal on Monday, as previously reported.

The Rule 144A and Regulation S deal is expected to settle on Nov. 29.

Proceeds will be used for projects undertaken by Swedish local governments that promote the transition to a low-carbon and climate-resilient society.

Kommuninvest offers funding to municipalities in Sweden.

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