KLP Kommunekreditt plans NOK 3 bn covered bond issuance

KLP Kommunekreditt AS has announced its intention to investigate the launch of a new NOK FRN Covered bond (Premium). The company has mandated DNB Carnegie, Nordea, and SEB to facilitate this potential offering. The expected issue size for the bond is NOK 3 billion, with a targeted maturity date of November 2030.

The new covered bond will be backed by a portfolio of loans to Norwegian municipalities, county authorities, or enterprises benefiting from public guarantees. This robust backing is anticipated to result in a Aaa rating from Moody's for the transaction.

The transaction is expected to be launched in the near future, contingent on prevailing market conditions. Christopher Steen, cfo, is listed as the contact person for further inquiries.