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Sweden raises USD 2 billion in two-year bond sale at 4.482%
Press release 23 January 2024
The Kingdom of Sweden has raised USD 2 billion (about SEK 21 billion) selling a two-year bond at a yield of 4.482 per cent. The bond sale is part of the Swedish National Debt Office’s communicated funding plan.
The bid volume reached USD 6.2 billion with more than 70 investors participating. Final pricing was fixed at and 8 basis points above the corresponding US benchmark and 23.5 basis points above USD mid swaps.
“This is our first foreign-currency loan since 2020 and we are very pleased to see such wide international interest in buying our bonds,” says Johan Bergström, Head of Funding at the Debt Office.
Today’s transaction is included in the Debt Office’s current funding plan, which was published in October 2023. The issuance of foreign-currency bonds does not generate any foreign-currency exposure for Sweden’s central government debt, as the Debt Office uses derivatives to manage currency risks.
| Issuer | Kingdom of Sweden |
| Size | USD 2 billions |
| Coupon | 4.375% s.a. |
| Maturity date | 2026-01-30 |
| Price | 99.797% |
| Yield | 4.482% |
| Spread versus US benchmark | 8 basis points |
| Spread versus USD mid-swaps | 23.5 basis points |
| Lead managers | Citigroup Global Markets Europe AG, Danske Bank A/S Copenhagen, HSBC Bank PLC, TD Global Finance unlimited company. |
| Bank/Bank treasury | 18% |
| Central banks/Official institutions | 70% |
| Fund managers | 12% |
| Americas | 16% |
| Asia | 48% |
| EMEA | 36% |
Contact
Johan Bergström, Head of Funding, +46 8 613 45 68