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FI CommentKommuninvest introduces 2311

  1. Kommuninvest will introduce 2311
  2. Coupon of 1%; ISIN SE0010948240
  3. Pricing at 10 bp over SEK IRS, matched maturity
Maturity in November 13, 2023; coupon of 1.0%; ISIN SE0010948240
Kommuninvest will introduce K2311 in the near future, depending on market conditions. The bond will be launched under the issuer’s SEK benchmark programme. The bond will mature on November 13, 2023 for a maturity of about five and a half years at issue. Benchmark status is targeted and the minimum issue size is SEK 3bn. A repo facility will be offered, according to Kommuninvest standard.
Pricing at 10bp over SEK IRS, matched maturity
K2311 will fit between K2302 (Feb 2023) and K2410 (Oct 2024). According to market prices on March 12 at 16:00, we estimate the yield on K2311 to be 62bp over SGB1057. Under current market conditions, we think 10bp over SEK IRS (matched maturity) is fair.

Disclaimer

Kiran Sakaria

Junior Strategist

Foreign Exchange and Fixed Income

kisa02@handelsbanken.se

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