Kingdom of Sweden issues 3-year dollar benchmark

21 February 2019 - Press release

Kingdom of Sweden issues USD 2.0 billion (approximately SEK 19 billion) in a new three-year bond at a yield of 2.587 per cent. The proceeds will be used to refinance maturing on-lending to the Riksbank.

The transaction was priced at mid-swaps flat. Nearly 50 investors took part in the deal with bids totaling USD 3.3 billion.

– We had strong demand from both central banks and bank treasuries, which provided us with a very tight price, says Anna Sjulander, Head of Funding at the Swedish National Debt Office.

Terms and conditions

Issuer

Kingdom of Sweden

Size

USD 2.0 billion

Coupon

2.5 % s.a.

Maturity date

28 February 2022

Price

99.750 %

Yield

2.587 % s.a.

Spread versus USD mid   swaps

0 bps

Spread versus US   benchmark

8.65 basis points

Lead managers

Barclays, Citigroup, Deutsche Bank

In 2019, the Swedish National Debt Office plans to issue bonds in foreign currency equivalent to SEK 90 billion. The funding refers to refinancing of bonds previously raised on behalf of the Riksbank. After today’s transaction, just over SEK 70 billion remains.

Distribution by investor

Diagram: Distribution by investorDistribution by region

Diagram: Distribution by region

For more information, please contact:
Johan Bergström, Funding manager, +46 8 613 45 68