Sweden issues dollar denominated debt at record low yield
The Kingdom of Sweden has issued a $1bn three-year bond offering a yield of just 0.472% – a record low for a syndicated deal in 2012.
The bond was issued by Riksgälden, the Swedish National Debt Office, which said the bid volume was $1.5bn, mainly from central banks that bought 61% of the issue.
Banks bought 30% and asset managers 7%, with the balance sold to pension and insurance companies.
Around 32% of the bond was sold to Europe (excluding Sweden), 23% to Sweden, 16% to Asia and 20% Africa and the Middle East. US and other investors in the Americas bought 9% of the bond.
|Terms and conditions|
|Issuer||Kingdom of Sweden|
|Size||Dollar 1.0 billion|
|Spread versus Benchmark||plus 4.75 basis points|
|Spread versus Dollar mid swaps||minus 7 basis points|
|Lead managers||Barclays, Deutsche Bank, Citigroup|