SEK issues a EUR 1 billion 7‑year euro benchmark bond
SEK has issued a EUR 1 billion 7‑year euro‑denominated benchmark bond. The transaction represents SEK’s first euro benchmark bond issuance in 2026 and was successfully executed despite a busy issuance environment and continued geopolitical uncertainty.
Strong investor interest
On Tuesday, 19 May, SEK priced a public 7‑year euro benchmark bond transaction. Investor demand was strong, which resulted in a high-quality orderbook that built rapidly from the outset. The final orderbook totalled EUR 1.7 billion, with more than 50 different accounts participating, which demonstrates a broad and diversified following.
We are very pleased with the execution of our first euro benchmark of the year. The issuance window was busy, but the orderbook built fast with high-quality orders which enabled a very solid outcome. The result reflects the confidence we have built over time in the European bond market and confirms the strength of SEK’s well diversified funding strategy. Louise Bergström, Funding and Investor Relations Director, SEK
The bond was priced at 25 basis points over mid‑swaps, equivalent to 34.6 basis points over the 7‑year German government bond maturing in February 2033. The transaction carries a fixed annual coupon of 3.250% and matures on 27 May 2033.
The successful issuance establishes a new on‑the‑run reference point in the 2033 segment of SEK’s euro funding curve.
Crédit Agricole CIB, J.P. Morgan, NatWest, Nomura and Swedbank acted as Joint Lead Managers for the transaction.