KLP Boligkreditt plans NOK 3 bn covered bond offering

KLP Boligkreditt AS has announced its intention to investigate the launch of a new NOK 3 billion LCR Lvl 2A September 2030 FRN benchmark covered bond. DNB Carnegie and Nordea have been mandated to facilitate this potential offering. This new bond is anticipated to secure an Aaa rating from Moody's and will be fully backed by Norwegian residential mortgages.

The transaction is expected to be launched in the near future, contingent upon favorable market conditions. The target market for this financial product is restricted to eligible counterparties and professional clients only, utilizing all distribution channels. No PRIIPs key information document has been prepared, as the offering is not considered to be within the scope of PRIIPs regulations.

This strategic move by KLP Boligkreditt AS indicates a proactive approach to capital raising and portfolio management. Christopher Steen, chief executive, is listed as the contact for further inquiries.