Kingdom of Sweden lends EUR 1.5 billion to the Riksbank

5 February 2015 - Press release

Kingdom of Sweden issues EUR 1.5 billion (approximately SEK 14 billion) in a new five-year bond at a yield of 0.076 per cent. The proceeds will be used to refinance maturing on-lending to the Riksbank.

The order book was quickly oversubscribed with a volume exceeding EUR 3.6 billion. Over 60 investors primarily from Europe and Asia took part in the deal. The transaction was priced at mid-swaps minus 24 basis points and has the lowest-ever coupon for a sovereign syndication in EUR. 

Terms and conditions

Issuer

Kingdom of Sweden

Size

EUR 1.5 billion

Coupon

0.050 % p.a.

Maturity date

12 Feb 2020

Price

99.870 %

Yield

0.076 % p.a.

Spread versus EUR mid swaps

Minus 24 basis points

Spread versus EUR benchmark

10.8 basis points

Lead managers

Danske Bank, Deutsche Bank och Goldman Sachs International

In 2015, the Debt Office plans to issue foreign currency bonds equivalent to SEK 97 billion. The volume includes refinancing of on-lending to the Riksbank equivalent to SEK 57 billion. The balance after today’s issue is around SEK 63 billion.

Distribution by investor and region

 Chart distribution by investorChart distribution by region

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