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   
 IssuerKingdom of Sweden
 SizeDollar 1.0 billion
 Spread versus Benchmarkplus 4.75 basis points
 Spread versus Dollar mid swapsminus 7 basis points
 Lead managersBarclays, Deutsche Bank, Citigroup


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