Kingdom of Sweden issues dollar at record low level

Press release 21 May 2014

Kingdom of Sweden issues USD 1.5 billion (approximately SEK 10 billion) in a new three-year bond to a yield of 0.952 per cent. The proceeds will be used to refinance maturing on-lending to the Riksbank.

The transaction was priced at mid-swaps minus 4 basis points. This is the second time the Kingdom borrows at a lower level than other sovereign issuers, US treasury excluded. 

– We saw an attractive opportunity with strong demand, which provided us with a very tight price. The final book size exceeded USD 1.9 billion, says Maria Norström, Head of Funding.

Terms and conditions


Kingdom of Sweden


USD 1.5 billion


0.875 % s.a.

Maturity date

15 Aug 2017


99.757 %


0.952 % s.a.

Spread versus USD mid swaps

Minus 4 basis points

Spread versus US benchmark

17.3 basis points

Lead managers

Citigroup, Deutsche Bank, J.P. Morgan

Of this year’s total funding in foreign currency bonds equivalent of SEK 69 billion for 2014, SEK 43 billion have now been covered. Bond issuance of SEK 26 billion remains, of which SEK 20 billion regards refinancing on-lending to the Riksbank.

Distribution by investor and region

For more information, please contact:
Anna Sjulander, Deputy Head of Funding, +46 8 613 47 77
Unni Jerndal, Head of Communication, +46 8 613 45 96