Funding

The City of Gothenburg’s funding is mainly managed via established capital market programmes. At the present time the City has a long-term programme in EMTN (Euro Medium Term Note) and a short-term certificate programme, KCP (commercial paper). The EMTN borrowing is limited to EUR 6 billion and the KCP borrowing is limited to SEK 6 billion.

ECP (Euro Commercial Paper) programme has been updated in August 2013 and the maximun amount of the programme is set to USD 500 million. More information on the programme can be found below.

The City of Gothenburg is also a member of Kommuninvest of Sweden and has the opportunity of raising financing that way.

The City has also subscribed to loans bilaterally with counterparts such as the European Investment Bank. At the turn of the year the volume of bilateral loans totalled SEK 5.1 billion.

As of 31/12 2015 borrowing was as follows:
Programme Loan Limit Degree of utilisation
EMTN EUR 6 billion SEK 21.3 billion
KCP SEK 6 billion SEK 0.3 billion
ECP USD 500 million SEK 3.0 billion
Kommuninvest SEK 2.9 billion
Bilaterat loans SEK 5.1 billion