KBN’s funding program
KBN maintains the highest possible credit rating, (Aaa/AAA, Stable/Stable), from Moody’s and Standard & Poor’s and is identified as one of two systemically important financial institutions in Norway.
Kommunalbanken (“KBN”), 100% owned by the Kingdom of Norway, rated Aaa (stab)/AAA (stab), priced their second
USD benchmark of 2019; a new USD 1.5 billion 5-year RegS/144A transaction. The issue has a final maturity of 19th June 2024,
pays a semi-annual coupon of 2.000% and has an issue price of 99.868%, to give a spread of 15.6 basis points over the 2.000%
US Treasury due May 2024, equivalent to mid-swaps +15 basis points. More
KBN’s net interest income in the first quarter of 2019 was NOK 458 million as compared to NOK 495 million in the same period in 2018. KBN's lending portfolio grew by 1.2% in the first three months of the year, compared to growth of 0.4% in the same period in 2018. NOK 663 million was disbursed in new, green loans. More
Kommunalbanken AS’s (KBN’s) lending grew by 7.3% in 2018 as compared to growth of 5.7% in 2017. Much of this growth was achieved towards the end of 2018 during a period of volatile market conditions. Lending for climate and environment projects grew by NOK 7.3 billion in 2018 and represented a sizeable 36% of KBN’s overall lending growth. More