By Cristal Cody
Tupelo, Miss., June 12 – Swedish Export Credit Corp. priced an upsized $600 million reopening of its 1.75% medium-term global notes due Dec. 12, 2023 (Aa1/AA+) on Friday at 104.312 to yield 0.496%, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes priced at a spread of Treasuries plus 27.65 bps.
Initial price talk was in the mid-swaps plus 22 bps area.
The deal was upsized from $500 million.
Deutsche Bank AG and Toronto-Dominion Bank were the bookrunners.
Swedish Export Credit first sold $500 million of the notes on Dec. 5, 2019 at par to yield mid-swaps plus 18 bps, or a spread of Treasuries plus 15.7 bps. The total outstanding is now $1.1 billion.
The government-owned financial services company for the Swedish export industry is based in Stockholm.
| Issuer: | Swedish Export Credit Corp.
|
| Amount: | $600 million reopening
|
| Description: | Series F medium-term global notes
|
| Maturity: | Dec. 12, 2023
|
| Bookrunners: | Deutsche Bank AG and Toronto-Dominion Bank
|
| Coupon: | 1.75%
|
| Price: | 104.312
|
| Yield: | 0.496%
|
| Spread: | Treasuries plus 27.65 bps
|
| Trade date: | June 12
|
| Settlement date: | June 22
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps plus 22 bps area
|
| Total outstanding: | $1.1 billion, including $500 million of notes priced Dec. 5, 2019 at par to yield mid-swaps plus 18 bps, or a spread of Treasuries plus 15.7 bps
|
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