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Terms for switches to government bond 1059
Press release 22 April 2015
The Swedish National Debt Office introduces a new government bond, SGB 1059 X% 12 Nov 26. The auction details and the coupon will be published on Wednesday 13 May 2015 at 12:05.
On 20 May, SEK 4 billion will be issued in a first auction of the new bond. The Debt Office is also offering switches for SGB 1058 2.5% 12 May 25 and SGB 1057 1.5% 13 Nov 23 to quickly build up volume in the new loan. The switches will be made price risk neutral.[1]
|
|
Thu 21 May |
Fri 22 May |
Mon 25 May |
Tue 26 May |
|
Time for yield on buy-back loan |
10:45 |
10:45 |
10:45 |
10:45 |
|
Time for auction cut-off |
11:00 |
11:00 |
11:00 |
11:00 |
|
Time for auction result |
11:03 |
11:03 |
11:03 |
11:03 |
|
SNDO buys amount (SEK mn) [2] |
5 200 |
5 200 |
6 400 |
5 200 |
|
SNDO buys loan |
1058 |
1058 |
1057 |
1058 |
|
SNDO sells amount (SEK mn) |
5 000 |
5 000 |
5 000 |
5 000 |
|
SNDO sells loan |
1059 |
1059 |
1059 |
1059 |
The new bond was announced in the publication Central Government Borrowing – Forecast and Analysis 2015:1 in February.
The bid yield on the buy-back loan will be published on riksgalden.se at 10:45 on the day of the auction.
Bids must be placed before 11:00 on the day of the auction. The result will be published around 11:03 or somewhat later. Bidding is only possible through primary dealers.
For more information, please contact:
Maria Norström, Head of Funding, +46 (0)8 613 46 35
Magdalena Belin, Head of Analysis, +46 (0)8 613 52 28
[1] The market value of the purchase and sales volume multiplied by the modified duration of each bond shall be equal.
[2] The stated nominal volume of loan 1057 and loan 1058 is an approximation calculated on the basis of today's yields.