Sweden raises USD 3 billion in a five-year bond at 2.452 %

4 January 2018 - Press release

Kingdom of Sweden raised USD 3 billion (approximately SEK 24 billion) in a new five-year benchmark at a yield of 2.452 per cent. The proceeds will be used to refinance loans to the Riksbank.

The transaction was priced at mid-swaps 12 basis points. More than 80 investors took part with the total bid volume of USD 7.5 billion.

– It is a great start of the year for the Kingdom. Both volume and geographical distribution illustrated strong investor demand, says Anna Sjulander, Head of Funding at the Swedish National Debt Office.

Terms and conditions

Issuer

Kingdom of Sweden

Size

USD 3 billion

Coupon

2.375 % s.a.

Maturity date

15 February 2023

Price

99.632 %

Yield

2.452% s.a.

Spread versus USD mid   swaps

12 basis points

Spread versus US   benchmark

16.2 basis points

Lead managers

BMO Capital Markets, Goldman Sachs International, HSBC and Nordea

In 2018, the Debt Office plans to issue bonds in foreign currency equivalent to SEK 102 billion. The funding refers to refinancing of bonds previously raised on behalf of the Riksbank. After today’s transaction, approximately SEK 78 billion remains. 

Distribution by investor

Diagramme of Distribution by investor

 

Distribution by region

Diagramme of Distribution by region

Contact

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