Terms for switches to government bond 1059

22 April 2015 - Press release

The Swedish National Debt Office introduces a new government bond, SGB 1059 X% 12 Nov 26. The auction details and the coupon will be published on Wednesday 13 May 2015 at 12:05.

On 20 May, SEK 4 billion will be issued in a first auction of the new bond. The Debt Office is also offering switches for SGB 1058 2.5% 12 May 25 and SGB 1057 1.5% 13 Nov 23 to quickly build up volume in the new loan. The switches will be made price risk neutral.[1]

Switch auctions

 

Thu 21 May

Fri 22 May

Mon 25 May

Tue 26 May

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

11:03

11:03

11:03

11:03

SNDO buys amount (SEK mn) [2]  

5 200

5 200

6 400

5 200

SNDO buys loan

1058

1058

1057

1058

SNDO sells amount (SEK mn)

5 000

5 000

5 000

5 000

SNDO sells loan

1059

1059

1059

1059

The new bond was announced in the publication Central Government Borrowing – Forecast and Analysis 2015:1 in February.

The bid yield on the buy-back loan will be published on riksgalden.se at 10:45 on the day of the auction.

Bids must be placed before 11:00 on the day of the auction. The result will be published around 11:03 or somewhat later. Bidding is only possible through 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 sales volume multiplied by the modified duration of each bond shall be equal.

[2] The stated nominal volume of loan 1057 and loan 1058 is an approximation calculated on the basis of today's yields.