Kingdom of Sweden raised USD 2.5 billion (approximately SEK 20.6 billion) in a three-year bond at a yield of 1.911 per cent. The proceeds will be used to refinance loans to the Riksbank.
The yield in the transaction is 6 basis points below mid-swaps. The total bid volume exceeded USD 2.6 billion with 40 investors taking part.
- Today's transaction once again shows that Sweden is able to borrow large volumes of foreign currency despite the volatility in the US capital market, says Anna Sjulander, Deputy Head of Funding at the Swedish National Debt Office.
Terms and conditions
| Issuer | Kingdom of Sweden |
| Size | USD 2.5 billion |
| Coupon | 1.875 % s.a. |
| Maturity date | 2 November 2020 |
| Price | 99.896 % |
| Yield | 1.911 % s.a. |
| Spread versus USD mid swaps | Minus 6 basis points |
| Spread versus US benchmark | 17 basis points |
| Lead managers | Barclays, Citigroup, J.P.Morgan |
Including today's issue the Debt Office has borrowed the equivalent of SEK 61 billion in foreign currency bonds this year. Thus, this year's borrowing in the international capital market is completed. In 2018, the Debt Office expects to refinance maturing loans corresponding to SEK 102 billion to the Riksbank.
Distribution by investor
Distribution by region
Contact
Johan Bergström, Funding manager, +46 (0)8 613 45 68