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Terms for switches to new government bond SGB 1062
Press release 21 February 2020
The Swedish National Debt Office introduces a new ten-year government bond, SGB 1062, in March 2020. The Debt Office will issue SEK 2 billion in an initial auction and then offer switches to SGB 1062 for a total of SEK 4 billion.
The initial auction will be held on 25 March and the switch auction on 26 March. Switches to SGB 1062 X% 12 May 31 from SGB 1061 0.75% 12 Nov 29 are made price risk neutral.1
| Thu 26 March Risk neutral | |||
|---|---|---|---|
|
SNDO buys bond |
SGB 1061 |
||
|
SNDO buys amount (SEK mn)2 |
4 400 |
||
|
SNDO sells bond |
1062 |
||
|
SNDO sells amount (SEK mn) |
4 000 |
||
|
Time for yield on buy-back bond |
10.45 |
||
|
Time for auction cut-off |
11.00 |
||
|
Time for auction result |
11.03 |
The bid yield on the buy-back bond will be published at 10.45 a.m. on the day of the auction on riksgalden.se/borrowing. Bids must be placed before 11.00 a.m. by the Debt Office’s primary dealers. The results will be published at 11:03 a.m. or somewhat later.
As previously announced, the Debt Office will also issue SEK 5 billion per auction of the SGB 1062 on 22 April and 6 May to build up the volume of the new bond.
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 sales volume multiplied by the modified duration of each bond shall be equal.
2 The stated nominal volume of the buy-back bond is an approximation based on today's yields.