Terms for switches to new government bond SGB 1066

Press release 11 January 2024

The Swedish National Debt Office will at the end of January introduce a new government bond, SGB 1066, maturing on 11 May 2035. The Debt Office will sell SEK 3 billion in the first auction and then offer switches to the new bond for a total of SEK 10 billion.

The coupon of the new bond will be published on Wednesday 24 January at 16:20, ahead of the first auction which will be held on 31 January. Thereafter, the Debt Office will offer switches to SGB 1066 X% 11 May 35 from SGB 1065 1.75% 11 Nov 33, SGB 1053 3.50% 30 Mar 39 and SGB 1056 2.25% 1 Jun 32. The switches will be made price risk neutral1.

Switch auctions
 Thu 1 Feb
Risk neutral
Fri 2 Feb
Risk neutral
Mon 5 Feb
Risk neutral

SNDO buys bond

1065

1053

1056

SNDO buys amount (SEK mn)2

4,600

2,200

3,900

SNDO sells bond

1066

1066

1066

SNDO sells amount (SEK mn)

4,000

3,000

3,000

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 switch auctions were announced in the publication Central Government Borrowing – Forecast and Analysis 2023:3 in October. The purpose of the switches is to build up volume in the new bond.

The bid yield on the buy-back bond will be published at 10:45 on the day of the auction on riksgalden.se/borrowing. Bids must be placed before 11:00 through the Debt Office’s primary dealers. The results will be published at 11:03 or somewhat later.

For more information, please contact:
Johan Bergström, Head of Funding, +46 (0)8 613 45 68
Anna Olofsson, Head of Analysis, +46 (0)8 613 45 98


1 The market value of the purchase and sales volume multiplied by the modified duration of each respective bond shall be equal.

2 The stated nominal volume of the bonds 1065, 1053 and 1056 is an approximation based on today's yields.