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FI CommentKommuninvest introduces K2505

  1. Kommuninvest will introduce K2505
  2. The coupon is 1%; ISIN SE0011414010
  3. Pricing at 24bp over swap, matched maturity
Matures on May 12, 2025; coupon of 1.0%; ISIN SE0011414010
Kommuninvest is set to introduce K2505 on Wednesday, June 20, depending on market conditions. The bond will be issued under the issuer’s SEK benchmark programme. It will mature on May 12, 2025, for a maturity at issue of about seven years. The coupon is set at 1%. Benchmark status is targeted and the minimum issue size is SEK 3bn. A repo facility will be offered, according to Kommuninvest standard.
Pricing at 24bp over swap, matched maturity
K2505 will have the longest maturity on the Kommuninvest SEK benchmark curve. The closest existing Kommuninvest bond is the K2410, with a maturity in October 2024. According to market prices on June 19 at 12:00, we estimate the yield on the K2505 to be 86,5 bp over SGB1058. We estimate the K2505 to be priced 24 bp over swap, matched maturity.

Disclaimer

Kiran Sakaria

Junior Strategist

Foreign Exchange and Fixed Income

kisa02@handelsbanken.se

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