KBN Quartely Funding UpdateNews
KBN reached the end of H1 2019, raising approximately 60% per cent of its annual total funding volume across a variety of different markets. As of end of June, KBN has raised USD 6.2 billion equivalent, via 25 trades across (13) different currencies.
New external green appointments for KBNNews
KBN wants to help put sustainability on the agenda both in Norway and internationally. We are actively involved in developments in the area thanks to the range of external appointments held by our employees, which include a member of Finance Norway’s Sustainability Group and a member of the Norwegian Climate Foundation’s Council.
KBN launches successful USD 1.5 billion 5-year BenchmarkPress release
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.
Good lending growthPress release
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.
High demand for loans in demanding market conditionsPress release
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.
Nordic issuers update their green bonds impact reporting guideNews
In 2017, KBN published an environmental impact reporting guide for green bonds, "Nordic public sector issuers' position paper on Green Bond impact reporting", together with other Nordic public sector issuers. The guide is now released in an updated version.
Impressive school building in cross-laminated timberNews
The new Sauland school is the first of its kind in the south east of Norway. A reverent building in cross-laminated timber, with beautiful wooden cladding and smart energy solutions. Hjartdal municipality is the first to use cross-laminated timber in a school building in the Telemark region, and they will now lead the way in the green shift within the construction sector.
Successful first USD Benchmark of 2019News
KBN issued its first USD benchmark of the year on January 29th. The transaction enjoyed exceptionally strong and high quality demand.