Sweden raises USD 2.5 billion three-year at 1.911 %

25 October 2017 - Press release

Kingdom of Sweden raised USD 2.5 billion (approximately SEK 20.6 billion) in a three-year bond at a yield of 1.911 per cent. The proceeds will be used to refinance loans to the Riksbank.

The yield in the transaction is 6 basis points below mid-swaps. The total bid volume exceeded USD 2.6 billion with 40 investors taking part.

– Today’s transaction once again shows that Sweden is able to borrow large volumes of foreign currency despite the volatility in the US capital market, says Anna Sjulander, Deputy Head of Funding at the Swedish National Debt Office.

Terms and conditions

Issuer

Kingdom of Sweden

Size

USD 2.5 billion

Coupon

1.875 % s.a.

Maturity date

2 November 2020

Price

99.896 %

Yield

1.911 % s.a.

Spread versus USD mid   swaps

Minus 6 basis points

Spread versus US   benchmark

17 basis points

Lead managers

Barclays, Citigroup, J.P.Morgan

Including today’s issue the Debt Office has borrowed the equivalent of SEK 61 billion in foreign currency bonds this year. Thus, this year’s borrowing in the international capital market is completed. In 2018, the Debt Office expects to refinance maturing loans corresponding to SEK 102 billion to the Riksbank.  

Distribution by investor

Diagramme Distribution by investor

Distribution by region

Diagramme Distribution by region

Contact

Johan Bergström, Funding manager, +46 (0)8 613 45 68