By Cristal Cody
Tupelo, Miss., May 7 – Swedish Export Credit Corp. priced $1.25 billion of 0.625% five-year senior notes (Aa1/AA+) on Wednesday at a spread of mid-swaps plus 32 basis points, or Treasuries plus 34.7 bps, according to additional details of the offering from a market source.
Initial price talk was in the mid-swaps plus 35 bps area with guidance tightened to mid-swaps plus 34 bps area.
The notes priced at 99.485 to yield 0.73%.
Barclays, Goldman Sachs International, RBC Capital Markets LLC and Scotiabank Europe plc 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: | $1.25 billion
|
| Description: | Global notes
|
| Maturity: | May 14, 2025
|
| Bookrunners: | Barclays, Goldman Sachs International, RBC Capital Markets LLC and Scotiabank Europe plc
|
| Co-lead managers: | SMBC Nikko Capital Markets Europe GmbH and Tokai Tokyo Securities Europe Ltd.
|
| Coupon: | 0.625%
|
| Price: | 99.485
|
| Yield: | 0.73%
|
| Spread: | Mid-swaps plus 32 bps, or Treasuries plus 34.7 bps
|
| Trade date: | May 6
|
| Settlement date: | May 14
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps plus 34 bps area; initial talk at mid-swaps plus 35 bps area
|
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