By Marisa Wong
Madison, Wis., May 21 - The Kingdom of Sweden sold $1.5 billion of 0.875% three-year notes with a spread of mid-swaps minus 4 basis points, according to a news release.
The notes priced at 99.757 to yield 0.952%, or Treasuries plus 17.3 bps.
Citigroup, Deutsche Bank and JPMorgan were the lead managers.
The final book for the deal was over $1.9 billion.
Proceeds will be used to refinance maturing on-lending to the Riksbank.
The release noted that of this year's total funding in foreign currency bonds, equivalent to SEK 69 billion for 2014, SEK 43 billion have now been covered. Of the SEK 26 billion balance, SEK 20 billion will be related to refinancing on-lending to the Riksbank.
| Issuer: | Kingdom of Sweden
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Maturity: | Aug. 15, 2017
|
| Coupon: | 0.875%
|
| Price: | 99.757
|
| Yield: | 0.952
|
| Spread: | 17.3 bps over Treasuries; 4 bps under mid-swaps
|
| Lead managers: | Citigroup, Deutsche Bank and JPMorgan
|
| Announcement date: | May 21
|
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