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Kingdom of Sweden issues a 3-year dollar benchmark
Press release 15 January 2015
Kingdom of Sweden issues USD 2.5 billion (approximately SEK 20 billion) in a new three-year bond at a yield of 0.962 per cent. The proceeds will be used to refinance maturing on-lending to the Riksbank.
The transaction was priced at mid-swaps minus 6 basis points and is the first European sovereign issue in dollar this year. Over 40 investors took part in the deal.
– Despite a significant volatility in the fixed income and FX markets as well weakness in equities, we could price flat to our secondary curve, says Maria Norström, Head of Funding.
|
Issuer |
Kingdom of Sweden |
|
Size |
USD 2.5 billion |
|
Coupon |
0.875 % s.a. |
|
Maturity date |
23 Jan 2018 |
|
Price |
99.743 % |
|
Yield |
0.962 % s.a. |
|
Spread versus USD mid swaps |
Minus 6 basis points |
|
Spread versus US benchmark |
15.3 basis points |
|
Lead managers |
Barclays, Citigroup, Nordea |
In 2015, the Debt Office plans to issue foreign currency bonds equivalent to SEK 97 billion. The volume includes refinancing of on-lending to the Riksbank equivalent to SEK 57 billion.
Distribution by investor and region
For more information, please contact:
Anna Sjulander, Deputy Head of Funding, +46 8 613 47 77