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Terms for switches in inflation-linked bond SGB IL 3108
Press release 15 January 2021
The Swedish National Debt Office offers switch auctions in inflation-linked bond SGB IL 3108 with the aim of decreasing the outstanding volume to around SEK 25 billion before the bond’s time to maturity is shorter than one year. The initial switch auctions will be held on 5 and 8 of February.
The offered bonds in the switch auctions are SGB
IL 3112 and SGB IL 3114. The switches will be cash neutral1.
| 1The market value of the purchase and sales volume of each bond shall be equal. | ||
| 2The stated nominal volume of SGB IL 3108 is an approximation calculated on the basis of today’s yields. | ||
| Fri 5 February Cash neutral | Mon 8 February Cash neutral | |
|---|---|---|
| SNDO sells bond | 3112 | 3114 |
| SNDO sells amount (SEK mn) | 1,000 | 1,000 |
| SNDO buys bond | 3108 | 3108 |
| SNDO buys amount (SEK mn)2 | 1,070 | 1,060 |
| Time for yield on buy-back loan | 10:45 | 10:45 |
| Time for auction cut-off | 11:00 | 11:00 |
| Time for auction result | 11:03 | 11:03 |
The switches were announced in the publication Central Government Borrowing – Forecast and Analysis 2020:3 in October.
The buy-back yield 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. on the day of the auction. The results will be published at 11:03 a.m. or somewhat later. Bidding is conducted only via the Debt Office’s primary dealers.
For more information, please contact:
Johan Bergström, Acting Head of Funding, +46 (0)8 613 45 68
Anna Olofsson, Acting Head of Analysis and Development, +46 (0)8 613 45 98