Terms for switches to new government bond SGB 1067

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Press release 22 May 2025

The Swedish National Debt Office will in the beginning of June introduce a new government bond, SGB 1067, maturing on 15 October 2036. The Debt Office will sell SEK 6 billion each in the first two auctions and then offer switches to the new bond for a total of SEK 6 billion.

The coupon of the new bond will be published on Wednesday 28 May at 12:05, ahead of the first auction which will be held on Wednesday 4 June. After the following auction on 11 June, the Debt Office will offer switches to SGB 1067 X% 15 Oct 36 from SGB 1065 1.75% 11 Nov 33, SGB 1056 2.25% 1 Jun 32 and SGB 1053 3.50% 30 Mar 39. The switches will be made price risk neutral. 

Switch auctions
 Thu 12 June Risk neutral [1]Fri 13 June Risk neutral [1]
Mon 16 June 
Risk neutral [1]

SNDO buys bond

1065

1056

1053

SNDO buys amount (SEK million) [2]  

2,600

3,000

1,600

SNDO sells bond

1067

1067

1067

SNDO sells amount (SEK million)

2,000

2,000

2,000

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

[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, 1056 and 1053 is an approximation based on today's yields.

 The switch auctions were announced in the publication Central Government Borrowing – Forecast and Analysis 2024:3 in November. 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