Buyback Policy

KommuneKredit is a frequent issuer in the international capital markets and is focused on developing and maintaining long-term relationships with its investors.

 

KommuneKredit actively manages the composition of its balance sheet and the maturity profile of issued debt securities in order to manage its liquidity position. To this end, KommuneKredit engages in buy-backs of debt securities including bonds for which no two-way market is readily available or maintained which KommuneKredit considers a service to the investors.

 

In line with these objectives, KommuneKredit will consider, at its sole discretion, after having been contacted by a market participant with an interest to sell, purchasing all or portions of any outstanding debt securities. KommuneKredit will take various factors into account before deciding whether to make a purchase, including, but not limited to, price, maturity date, currency, size and other internal considerations.

 

In recent years buyback operations has also included Switch and Tender Offers on  debt securities with shorter maturities, allowing KommuneKredit to better manage the maturity profile of its overall funding. At the same time investors are offered the opportunity to extend into newly issued bonds with longer maturities.

 

As a firm policy, KommuneKredit does not cancel any purchased debt securities.

 

Buyback of debt securities will be published on KommuneKredit’s website following completion of each buy-back transaction.

Completed Buybacks

Settlement Date
ISIN
Bond Issue
Currency
Nominal Amount
Price

16/11/2017
XS0875753658
USD 1.125% Mar 2018
USD
67,136,000
100.00

16/11/2017
XS1166418878
USD 1.125% Jan 2018
USD
157,063,000
100.00

10/01/2018
XS0890286635
USD FRN due Feb 2018
USD
299,000,000
100.08

10/01/2018
XS0875753658
USD 1.125% Mar 2018
USD
127,900,000
100.03

10/01/2018
XS1279561465
USD 1.25% Aug 2018
USD
232,520,000
99.78

26/04/2018
XS1811184156
GBP 1.375% Dec 2018
GBP
147,124,000
100.32

11/06/2018
XS1279561465
USD 1.25% Aug 2018
USD
64,500,000
99.86

11/06/2018
XS1344519472
USD 1.5% Jan 2019
USD
190,987,000
99.52

14/03/2019
XS1480722567
USD 1.125% Aug 2019
USD
273,010,000
99.39

14/03/2019
XS1547364098
USD 1.75% Jan 2020
USD
176,752,000
99.36

30/01/2020
XS1627551457
USD 1.625% June 2020
USD
52,000,000
100.01

 

Last modified: 29 January 2020