Terms for switches to government bond SGB1060

12 December 2016

The Swedish National Debt Office introduces a new government bond SGB 1060 X% 12 May 28. The auction details and the coupon will be published on Wednesday 18 January 2017 at 16:20.

On Wednesday, 25 January SEK 3 billion will be issued in a first auction of the new bond SGB 1060. Thereafter the Debt Office is offering switches from SGB 1059 1.0% 12 Nov 26 and 1058 2.5% 12 May 25 to quickly build up volume in the new bond. The switches will be made price risk neutral[1] and cash neutral[2]

Switch auctions

 

Thu 26 Jan

Risk neutral

Fri 27 Jan

Risk neutral

Mon 30 Jan

Risk neutral

Tue 31 Jan

Cash neutral

SNDO buys bond

SGB 1059

SGB 1059

SGB 1058

SGB 1059

SNDO buys amount (SEK mn) [3]  

5 500

5 500

5 900

4 800

SNDO sells bond

SGB 1060

SGB 1060

SGB 1060

SGB 1060

SNDO sells amount (SEK mn)

5 000

5 000

5 000

5 000

Time for yield on buy-back bond

10.45

10.45

10.45

10.45

ime for auction cut-off

11.00

11.00

11.00

11.00

Time for auction result

11.03

11.03

11.03

11.03


The bond was announced in the publication Central Government Borrowing – Forecast and Analysis 2016:3 in October. See terms of sale on www.riksgalden.se.

The bid yield on the buy-back bond will be published at 10:45 on the SNDO web site on the day of the auction.

Bids must be placed before 11:00 on the day of the auction. The results will be published around 11:03. However, the auction result may be published somewhat later. Bidding is only possible by primary dealers.

For more information, please contact:
Maria Norström, Head of Funding, +46 (0)8 613 46 35
Göran Robertsson, Head of Analysis, +46 (0)8 613 46 06


[1] The market value of the purchase and sale volume multiplied by the modified duration of each respective bond shall be equal.
[2] The market value of purchase and sale volume of each bond shall be equal.
[3] The stated nominal volume of bond 1058 and bond 1059 is only an approximation calculated on the basis of today's yields.