By Sheri Kasprzak
New York, May 23 - AB Svensk Exportkredit priced $1 billion of five-year notes Wednesday, according to a term sheet.
The 1.75% notes (Aa1/AA+/) are due May 30, 2017 and were priced at a spread of Treasuries plus 108.9 basis points. The notes priced at 99.653 to yield 1.823%.
The Securities and Exchange Commission-registered notes were sold through joint lead managers HSBC (USA) Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch and Nomura International Inc.
The notes feature an optional redemption after the occurrence of certain tax events at par plus accrued and unpaid interest to the redemption date.
Proceeds will be used for working capital.
Based in Stockholm, Svensk is the lender to Sweden's export industry.
| Issuer: | AB Svensk Exportkredit
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | May 30, 2017
|
| Joint lead managers: | HSBC (USA) Inc., J.P. Morgan Securities LLC, Bank of America Merrill Lynch, Nomura International Inc.
|
| Coupon: | 1.75%
|
| Price: | 99.653
|
| Yield: | 1.823%
|
| Spread: | Treasuries plus 108.9 bps
|
| Call: | Optional redemption upon certain tax events at par plus interest to the redemption date
|
| Distribution: | SEC registered
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA+
|
| Trade date: | May 23
|
| Settlement date: | May 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
