The 2-year benchmark transaction was priced at 35 basis points above SOFR mid-swaps, with a semi-annual coupon of 3.875 percent. Despite geopolitical volatility, the orderbook exceeded USD 1.7 billion, with participation from just under 40 international investors.

“We are very pleased with another successful dollar transaction, especially given recent market volatility. This was our first 2-year dollar benchmark since 2023, and the result underscores SEK’s strong investor support,” said Anna Finnskog, Head of Treasury at SEK.

The transaction was led by HSBC, Morgan Stanley, Scotiabank, and Standard Chartered Bank AG.