SEK issues USD 1.5 billion 3-year Global benchmark bond
SEK has successfully completed a USD 1.5 billion 3-year Global benchmark bond, priced on March 5. This transaction marks SEK’s first benchmark of 2026 and was executed under challenging market conditions.
On March 4, SEK announced a 3-year USD Global Benchmark with guidance of SOFR MS+34 bps area. Despite challenging geopolitical conditions, interest was strong from outset and the orderbook grew steadily with orders coming in from all around the globe. The final orderbook exceeded USD 3 billion, with participation of nearly 70 investors.
As a result of the strong demand, the bond was priced on March 5 at SOFR MS +31bps and carries a semiannual coupon of 3.625 percent. This is equivalent to a spread of 10.7 bps over the current 3-year US Treasury. This is a strong testament to SEK’s loyal investor following, continuing SEK’s strong presence in the USD market.
Citi, Deutsche Bank, HSBC, SEB and TD Securities acted as Joint Lead Managers for the transaction.
We are very pleased to have executed our first USD Global Benchmark for 2026, completing the transaction despite challenging and volatile market conditions. Our ability to identify and navigate through a narrow window of opportunity ensured the benchmark’s success. We sincerely appreciate the continued trust and support from our investors. The strong result reflects SEK’s solid reputation built on SEK’s credit quality and long-standing presence in global capital markets. Ann-Marie Ahlén Fihlman, Director, SEK
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