Terms for exchanges to SGB 1057

12 September 2012 - Press release

The Swedish National Debt Office introduces a new government bond SGB 1057 (X% 13 Nov 23). See terms of sale on www.riksgalden.se. The auction details will be published on Wednesday 10 October at 16.20. The coupon will also be published then. The loan was announced in the publication Central Government Borrowing – Forecast and Analysis 2012:2 in June.

On Wednesday, 17 October SEK 3.5 billion will be issued in a first auction in loan 1057. To quickly build up volume in the new loan, the Debt Office is offering exchanges for loans SGB 1054 (3.5% 1 Jun 22) and SGB 1047 (5% 1 Dec 20). The exchanges will be made price risk neutral.[1]

Terms of exchanges to SGB 1057
Time for exchanges of loan 1057Thu 18 Oct Fri 19 OctMon 22 OctTue 23 Oct
Time for yield on buy-back loan 10.45 10.45 10.45 10.45
Time for auction cut-off 11.00 11.00 11.00 11.00
Time for auction result Around 11.03 Around 11.03 Around 11.03 Around 11.03
SNDO buys amount (SEK mn) [2] 5 100 5 100 5 700 5 100
SNDO buys loan 1054 1054 1047 1054
SNDO sells amount (SEK mn) 5 000 5 000 5 000 5 000
SNDO sells loan 1057 1057 1057 1057

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

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

For more information, please contact:

Maria Norström, Head of Funding, +46 (0)8 613 46 35

Magdalena Belin, Head of Analysis, +46 (0)8 613 52 28

[1] The market value of the purchase and sale volume multiplied by the modified duration of each respective bond shall be equal.

[2] The stated nominal volumes of the buy-back loans are only an approximation calculated on the basis of today's yields.