By Devika Patel
Knoxville, Tenn., Oct. 25 – The Kingdom of Sweden (Aaa/AAA/AAA) sold $2.5 billion of three-year notes, according to a press release.
The sovereign brought to market 1.875% notes at 6 basis points under mid-swaps or Treasuries plus 17 bps. These notes priced at 99.896 to yield 1.911%.
Barclays, Citigroup and JPMorgan were the lead managers.
Of the investors who purchased bonds, 70% were central banks and other institutions, according to the release. Banks made up 17% of investors, while fund managers bought 7%, corporate investors purchased 3% and insurance and pension investors also bought 3% of the notes.
The bulk of investors came from Asia at 60%. EMEA investors made up 25% of the deal, and investors in the Americas purchased 15% of the bonds.
The total bid volume exceeded $2.6 billion with 40 investors taking part.
| Issuer: | Kingdom of Sweden
|
| Description: | Notes
|
| Amount: | $2.5 billion
|
| Maturity: | Nov. 2, 2020
|
| Managers: | Barclays, Citigroup and JPMorgan
|
| Coupon: | 1.875%
|
| Price: | 99.896
|
| Yield: | 1.911%
|
| Spread: | Mid-swaps minus 6 bps, Treasuries plus 17 bps
|
| Settlement date: | Oct. 25
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
| Fitch: AAA
|
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