Kingdom of Sweden lends 3 billion dollar to the Riksbank

22 August 2013 - Press release

Kingdom of Sweden issues USD 3 billion (approximately SEK 19.5 billion) in a new three-year benchmark to a yield of 1.053 per cent. The refunding concerns earlier on-lending to the Riksbank.

The deal was oversubscribed and the final book size amounted to USD 3.3 billion.

–Today's deal once again shows that Sweden can borrow large volumes of foreign currency in a volatile market, says Maria Norström, Head of Funding.

The Debt Office has now raised bonds in foreign currencies to the equivalent of SEK 128 billion. The Debt Office plans to issue additional bonds in foreign currency in the region of SEK 12 billion. The size depends on market conditions. The funding concerns rollover of bonds and commercial paper earlier issued on behalf of the Riksbank.

Banks bought 54 per cent of the deal. Central banks represented 30 per cent while the balance went to asset managers and others. Around 64 per cent of the bond was sold to investors in Europe, 28 per cent to the Americas and 6 per cent to the Middle East and Africa. The balance was placed in Asia.

Terms and conditions
Issuer Kingdom of Sweden
Size USD  3 billion
Coupon 1,000  % payable s.a.
Maturity date 15 November 2016
Price 99.834 %
Yield 1.053 % s.a.
Spread versus USD mid swaps Minus 3 basis points
Spread versus US benchmark 25.75  basis points
Lead managers Citigroup, Deutsche Bank, J.P Morgan

For more information, please contact:
Anna Sjulander, Deputy Head of Funding, +46 8 613 47 77