SEK issues USD 1.25 billion benchmark bond due June 2031
SEK has issued a USD 1.25 billion benchmark bond due in June 2031. The transaction is SEK’s second USD benchmark issuance of the year and was successfully executed despite a market environment characterised by geopolitical uncertainty, concerns around inflation and interest rates in the United States, and elevated issuance activity.
Strong investor demand
On 3 September, SEK priced a public USD benchmark bond due in June 2031. Investor demand was strong from the outset, and the final orderbook exceeded USD 1.9 billion, with participation from more than 40 investors. Demand was particularly strong from central banks, official institutions and banks, demonstrating broad and diversified investor interest.
We are very pleased with the execution of our second USD benchmark of the year. We saw strong investor interest from the outset resulting in a high-quality orderbook and a very strong outcome. The transaction confirms SEK’s strong position in the international capital markets. Louise Bergstrom, Funding and Investor Relations Director at SEK.
The bond was priced at SOFR Mid-Swaps +35 basis points, equivalent to 9.3 basis points over 5y US Treasury. The transaction supports SEK’s ability to provide continued stable financing for the Swedish export industry.
Barclays, BNP Paribas, Bank of America and Scotiabank acted as Joint Lead Managers for the transaction.