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Kingdom of Sweden issues 3-year dollar benchmark
Press release 6 May 2015
Kingdom of Sweden issues USD 2.25 billion (approximately SEK 19 billion) in a new three-year bond at a yield of 1.136 per cent. The proceeds will be used to refinance maturing on-lending to the Riksbank.
The transaction was priced at mid-swaps minus 10 basis points, which is the lowest level for the Kingdom of Sweden in a 3-year dollar bond since 2012. Over 50 investors took part in the deal with bids totalling USD 3.3 billion.
– Despite volatile fixed-income and FX markets, demand from investors was significant, says Maria Norström, Head of Funding at the Swedish National Debt Office.
|
Issuer |
Kingdom of Sweden |
|
Size |
USD 2.25 billion |
|
Coupon |
1.125 % s.a. |
|
Maturity date |
15 May 2018 |
|
Price |
99.968 % |
|
Yield |
1.136 % s.a. |
|
Spread versus USD mid swaps |
–10 basis points |
|
Spread versus US benchmark |
14.5 basis points |
|
Lead managers |
Citigroup, HSBC, Nordea |
In the latest forecast from February, the Debt Office planned for total borrowing in foreign-currency bonds of SEK 93 billion in 2015. After today’s transaction approximately SEK 10 billion remains.
Distribution by investor and region
For more information, please contact:
Anna Sjulander, Deputy Head of Funding, +46 8 613 47 77