By Cristal Cody
Tupelo, Miss., March 31 – Swedish Export Credit Corp. priced $1.75 billion of 0.75% three-year global notes (Aa1/AA+) on Tuesday at mid-swaps plus 40 basis points, or a Treasuries plus 57.95 bps spread, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the mid-swaps plus 45 bps area with guidance tightened 5 bps to mid-swaps plus 40 bps.
The notes priced at 99.693 to yield 0.854%.
Bank of Montreal, London Branch., Deutsche Bank AG, J.P. Morgan Securities plc and Toronto-Dominion Bank were the bookrunners.
Swedish Export Credit is a Stockholm-based government-owned financial services company for the Swedish export industry.
| Issuer: | Swedish Export Credit Corp.
|
| Amount: | $1.75 billion
|
| Description: | Global notes
|
| Maturity: | April 6, 2023
|
| Bookrunners: | Bank of Montreal, London Branch., Deutsche Bank AG, J.P. Morgan Securities plc and Toronto-Dominion Bank
|
| Coupon: | 0.75%
|
| Price: | 99.693
|
| Yield: | 0.854%
|
| Spread: | Mid-swaps plus 40 bps, or Treasuries plus 57.95 bps
|
| Trade date: | March 31
|
| Settlement date: | April 6
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps plus 40 bps; initial talk at mid-swaps plus 45 bps area
|
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