Obligation KommuneCredit 0.125% ( DK0008931108 ) en DKK

KommuneCredit

100 % ⇌

Danemark

DK0008931108 ( en DKK )

0.125% par an ( paiement annuel )

07/11/2023 - Obligation échue

Prospectus brochure de l'obligation KommuneKredit DK0008931108 en DKK 0.125%, échue

1 DKK

3 250 000 000 DKK

KommuneKredit est une banque publique danoise qui fournit des financements et des services financiers aux municipalités et autres entités publiques danoises.

L'Obligation émise par KommuneCredit ( Danemark ) , en DKK, avec le code ISIN DK0008931108, paye un coupon de 0.125% par an.
Le paiement des coupons est annuel et la maturité de l'Obligation est le 07/11/2023

BOND TERMS

BOND TERMS FOR KOMMUNEKREDIT 0.125% BULLET LOAN

DUE 2023

Fixed rate non-callable bonds (hereafter "the Bonds")
Issuer
KommuneKredit (hereafter
"KommuneKredit" or the "Issuer").
Legal Framework
KommuneKredit is established by Act
(Lov om kreditforeningen af kommuner
og regioner i Danmark).
KommuneKredit's purpose is to provide
lending and financial leasing to
municipalities, regions, municipal
companies and other institutions that are
jointly and severally liable for loans
raised, or in which one or more
municipalities or regions participate, or
to institutions, where one or more
municipalities or regions have
guaranteed the loan amount.

As supervisory authority the Ministry of
Economic Affairs and the Interior ensures
compliance with the Act and regulations
issued pursuant to the Act.
Issuer's CVR (VAT) number
22128612
Issuer's LEI Number
529900D8QLTZ6PRLJL76
Issuer Rating
Aaa (Moody's) / AA+ (S&P)
Are the Bonds rated?
Yes
Bond Rating
Aaa (Moody's) / AA+ (S&P)
ISIN Code
DK0008931108
Series Number
Series 345
Bond Type
Bullet loan. The Bonds are non-callable.
The Bonds are redeemed in full on the
Maturity Date or the first Banking Day
thereafter.
Denomination
Danish kroner (DKK)
First day of Listing
8 November 2018
Closing Date
8 October 2023
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BOND TERMS
Maturity Date
8 November 2023
Denomination
DKK 0.01
Form of Bonds
Issued as dematerialized Bonds
registered at the Place of Registration.
Negotiability
The Bonds are negotiable debt
instruments issued in bulk. The Bonds
are not listed by bondholder.
Status of Bonds
Senior unsecured
Liability
All claims against KommuneKredit are
secured through the members' joint and
several liability for all of
KommuneKredit's liabilities. The
members must be Danish municipalities
and regions. If KommuneKredit defaults
on a payment obligation relating to the
bonds, the bondholders can, effective
immediately, assert a claim against any
of KommuneKredit's members.
Callability
The Bonds are irredeemable by the
bondholders.
Conditional renewal of term to
No.
maturity

Interest and Payment

Interest Basis
Fixed Rate
Nominal Interest Rate
0.125 per cent per annum
Effective Interest Rate
Cannot be specified, as the Bonds are
issued on an ongoing basis while the ISIN
is open for purchase.
Interest Rate Spread per annum
Not applicable as the Bonds are Fixed
Rate.
Reference Rate
Not applicable as the Bonds are Fixed
Rate.
Fixing
Not applicable as the Bonds are Fixed
Rate.
Fixing method
Not applicable as the Bonds are Fixed
Rate.
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BOND TERMS
Fixing period
Not applicable as the Bonds are Fixed
Rate.
Information on movements in the
Not applicable as the Bonds are Fixed
money market rate which forms the
Rate.
basis for the reference rate
Day Count Fraction
Act/Act (ICMA)
Number of Interest Rate Periods per
1
annum
Interest Rate Periods
8 November 7 November

Interest is calculated from and including
the first day of the Interest Rate Period to
and including the last day of the of the
Interest Rate Period (unadjusted). The
first Interest Rate Period commences on 8
November 2018.
Payment Dates for Interest
8 November of each year from and
including 8 November 2019 to and
including the Maturity Date. If the
Payment Date for Interest is a day, which
is not a Banking Day, payment is
postponed to the following Banking Day.
Banking Day
Danish Banking Days
Danish Banking Day means any day on
which Danish payment service providers
and Danish commercial banks are open
for general business.
Payments
Payment of interest etc. are made via
transfer on the relevant date of
redemption to the designated financial
institution.
Redemption
Bonds are redeemed on the Maturity
Date.

Underlying loan

Are the bonds based on an
No
underlying loan?
The net proceeds of the Bonds will be
used for general corporate purposes.
Bullet loan
No
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BOND TERMS
Annuity loan
No
Serial loan
No
Installment-free
No
Callable
No
Borrower's Early Redemption
Not applicable.
Redemption Price at Maturity
100

Securities Depository and

Regulated Market
Place of Registration
VP Securities A/S
Weidekampsgade 14
P.O. Box 4040
DK-2300 Copenhagen S.
Denmark

Place of Listing
The Bonds are listed on Nasdaq
Copenhagen A/S.
Date of Listing
8 November 2018
Calculation Agent
Issuer

Costs and offering

Costs of admission to trading on a
Costs shall not be covered by investor.
regulated market
Costs payable by investor
Investors are themselves responsible for
checking which trade costs (for example
commissions and/or charges of extra
brokerage fees) are imposed by third
parties in connection with the purchase of
bonds.
Issue Price
Market price
Settlement
The Bonds are traded 2 Banking Days
prior to Settlement.
Outstanding Amount
The Outstanding Amount of Bonds will be
announced regularly at the website of
Nasdaq
Copenhagen
A/S
www.nasdaqomxnordic.com.
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BOND TERMS
Offer Period
There will not be a public offer as the
Bonds are sold by the Issuer via the
regulated market at the Place of Listing.
Limitations for the investor
The Issuer has not imposed limitations on
the individual investor's right to subscribe
for the Bonds.
Access to information on bondholders No
Agreements on
The Issuer has not entered into any
placement/underwriting of the offer
binding agreements with any third party
concerning
the
placement
and/or
underwriting of the issue of the Bonds.
Agreements on market making
The Issuer has not entered into any
agreement with any third party
concerning market making in the Bonds.
Taxation
The Issuer shall not be held liable for any
changes in the tax treatment of the bonds
or in the tax position of the bondholders
including any withholding of tax of any
kind or collection of tax at source imposed
by public authorities.
All bondholders are encouraged to seek
separate and individual advice.
Limitation
The Bonds are subject to limitation in
accordance with the Act on Limitation in
respect of a claim.
Governing law and jurisdiction
The Bonds, and legal matters related
hereto, are governed by Danish law. The
judicial district, in which KommuneKredit
has its headquarters at any given time,
will have jurisdiction.

Other Definitions

Day Count Fraction Act/Act (ICMA)
Means that:
for a period corresponding to a whole
Interest Rate Period the coupon
payment per Denomination is
calculated as: Denomination *
Nominal Interest Rate / Number of
annual Interest Rate Periods,
for a period, which is shorter than
the whole Interest Rate Period, the
coupon payment per Denomination
shall be calculated as: Denomination
* (Nominal Interest Rate / Number
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BOND TERMS
of annual Interest Rate Periods) *
(Actual number of days in the period
/ Number of days in the Interest
Rate Period),
for a period, which is longer than the
whole Interest Rate Period, the
coupon payment per Denomination
shall be calculated as the sum of:
Denomination * (Nominal
Interest Rate / Number of annual
Interest Rate Periods) * (Actual
number of days to fall within the
Interest Rate Period in which the
period starts / Number of days in
the Interest Rate Period in which
the period starts), and
Denomination * (Nominal
Interest Rate /Number of annual
Interest Rate Periods) * (Actual
number of days falling within the
Interest Rate Period in which the
period ends / Number of days in
the Interest Rate Period in which
the period ends).

Copenhagen, 26 October 2018

_____________________________
_____________________________
Henrik Andersen

Eske Hansen

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