Investor Relations

The Loan Fund is financed by borrowing in the external capital market. The borrowing needs of the City Treasury and its municipal undertakings are met through loans from the Loan Fund.

Rules and regulations

According to the Local Government Act all municipalities shall adopt financial management rules which shall contain provisions preventing the municipality or the county authority from taking a significant financial risk in the financial and debt management, and which ensures that the current payment obligations may be met at maturity.

The City of Oslo’s financial management rules can be found here (in Norwegian only).

Goals

As stated in the City of Oslo’s financial management rules the main goal of the financial and debt management is to ensure cost-effective and rational financing of the City's various activities without incurring significant financial risk. The City of Oslo must always maintain sufficient liquidity to meet its payment obligations.

This means:

• Efficiently securing the City's capital needs
• Minimizing the City's net financial costs within defined risk limits
• Utilizing the City's overall cash flows to reduce borrowing needs

Credit Rating

The City of Oslo has since 2007 held an AAA rating from S&P Global Ratings.

• Read the the latest report issued by S&P Global Rating.

A credit opinion published by Moody’s Ratings gives the City of Oslo a Long-Term Rating of Aaa.

• Read The credit opinion

Bonds issued

The Loan Fund is the most cost-effective source of financing for the City Treasury and municipal undertakings because it secures more favorable terms on its direct borrowings in the money and bond markets than borrowings from financial institutions. The Loan Fund shall not use financial institutions unless it can be documented that they provide lower overall financing costs. At times, Kommunalbanken (KBN) and the Nordic Investment Bank have offered competitive terms compared to the bond market.

An overview of bonds issued by the City of Oslo

Financial information

Click here for budgets, annual reports and statements for the City of Oslo (in Norwegian only).

Contact information

Head of finance, Christian B. Ramm
E-mail: Christian.ramm@byr.oslo.kommune.no
Alt. mail: auksjon@byr.oslo.kommune.no