Terms for exchanges in loan 3105 in December

6 November 2013 - Press release

As a market commitment the Swedish National Debt Office offers exchanges amounting to a total of SEK 20 billion before SGB IL 3105 become shorter than one year. The first exchange auction will be on 5 and 6 December totaling SEK 5 billion. During the first half-year of 2014, the Debt Office offers additional exchanges in 3105 for a total of SEK 15 billion.

In these exchange auctions the Debt Office plans to sell the bonds SGB IL 3107 0.5% 1 Jun 17, SGB IL 3108 0.25% 1 Jun 22 and SGB IL 3109 X% 1 Jun 25. The first auction will be made price risk neutral[1], the second cash neutral[2].

Exchange terms 3105
Time for exchanges of loan 3105 Thursday 
5 December,
Risk neutral

Friday 
6 December,
Cash neutral

Time for buy-back yield 10.45 10.45
Auction closes 11.00 11.00
Time for auction result  11.03 11.03
SNDO buys loan 3105 3105
SNDO buys amount (SEK mn) [3] 3, 000 2, 000
SNDO sells loan 3107 3107
SNDO sells amount (SEK mn) 2, 100 2, 500

 The bid yield on the buy-back loans will be published at 10.45 at our web site.

Bids must be placed before 11.00 a.m. 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 through our primary dealers.

For more information, please see www.riksgalden.se.

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 sales volume multiplied by the modified duration of each bond shall be equal.
[2] The market value of purchase and sales volume of each bond shall be equal.
[3] The stated nominal volume of the buy-back loan is only an approximation calculated on the basis of today's yields.