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