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Terms for switches to inflation-linked bond SGB IL 3114
Press release 12 December 2019
The Swedish National Debt Office introduces a new inflation-linked bond – SGB IL 3114 X% 1 Jun 30 – in February 2020. The auction details and the coupon will be published on Thursday 30 January 2020 at 16.20.
The Debt Office will issue SEK 500 million of SGB IL 3114 in a first auction on 6 February 2020. Thereafter switches to the new bond will be offered to quickly build up volume. The switches will be made price risk neutral1 as well as cash neutral2.
| Fri 7 Feb Risk neutral | Mon 10 Feb Risk neutral | Tue 11 Feb Cash neutral | |
|---|---|---|---|
|
SNDO sells bond |
3114 |
3114 |
3114 |
|
SNDO sells amount (SEK mn)3 |
2 000 |
1 000 |
2 000 |
|
SNDO buys bond |
3104 |
3112 |
3104 |
|
SNDO buys amount (SEK mn) |
1 500 |
1 600 |
1 200 |
|
Time for yield on buy-back bond |
10.45 |
10.45 |
10.45 |
|
Time for auction cut-off |
11.00 |
11.00 |
11.00 |
|
Time for auction result |
11.03 |
11.03 |
11.03 |
The new bond was announced in the publication Central Government Borrowing – Forecast and Analysis 2019:3 on 23 October 2019.
The buy-back yield on the bond will be published at 10.45 on our website riksgalden.se/borrowing on the day of the auction.
Bids must be placed before 11.00 on the day of the auction. The results will be published at 11.03 or somewhat later. Bidding is only possible by primary dealers.
Contact:
Anna Sjulander, Head of Funding, +46 (0)8 613 47 77
Magdalena Belin, Head of Analysis, +46 (0)8 613 52 28
1 The market value of the purchase and sale volume multiplied by the modified duration of each respective bond shall be equal.
2 The market value of purchase and sales volume of each bond shall be equal.
3 The stated nominal volume of the buy-back loan is an approximation calculated on the basis of today's yields.