New Issue: Sweden’s $3 billion 1.125% three-year notes yield mid-swaps plus 6 bps

By Cristal Cody

Eureka Springs, Ark., Oct. 13 – The Kingdom of Sweden (Aaa/AAA/AAA) sold $3 billion of 1.125% three-year benchmark notes on Thursday at 99.727 to yield 1.218%, with more than 70 investors in the bid, according to a market source and news release.

The notes priced with a spread of mid-swaps plus 6 basis points, on the tight side of guidance.

Barclays, Goldman Sachs & Co., HSBC Securities (USA) Inc. and SEB were the lead managers.

Proceeds will be used to refinance loans to the Sveriges Riksbank, the central bank of Sweden.

Issuer:	Kingdom of Sweden
Amount:	$3 billion
Description:	Bonds
Maturity:	Oct. 21, 2019
Bookrunners:	Barclays, Goldman Sachs & Co., HSBC Securities (USA) Inc., SEB
Coupon:	1.125%
Price:	99.727
Yield:	1.218%
Spread:	Treasuries plus 20.45 bps, mid-swaps plus 6 bps
Trade date:	Oct. 13
Ratings:	Moody’s: Aaa
	S&P: AAA
	Fitch: AAA
Distribution:	Rule 144A, Regulation S
Price guidance:	Mid-swaps plus 7 bps area

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