Sweden raises EUR 2 billion in three-year bond sale at 2.097%
Prenumeration
The Kingdom of Sweden has raised EUR 2 billion (about SEK 21.8 billion) selling a three-year bond at a yield of 2.097 per cent. The bond sale is part of the Swedish National Debt Office’s communicated funding plan.
The bid volume was in excess of EUR 10 billion with 130 investors participating. Final pricing was fixed at 3 basis points above EUR mid swaps, corresponding to 21.1 basis points over the German benchmark bond.
“This is our first euro benchmark since 2018 and we are very pleased to see such a diverse range of orders. Today’s outcome shows that Kingdom of Sweden is a very well-regarded issuer,” says Johan Bergström, Head of Funding at the Debt Office
Today’s transaction is included in the Debt Office’s current funding plan, which was published in May 2025. The issuance of foreign-currency bonds does not generate any foreign-currency exposure for Sweden’s central government debt, as the Debt Office uses derivatives to manage currency risks.
Terms and conditions
| Issuer | Kingdom of Sweden |
| Size | EUR 2 billions |
| Coupon | 2.00% |
| Maturity date | 2028-06-26 |
| Price | 99.721% |
| Yield | 2.097% |
| Spread versus EUR mid swaps | 3 basis points |
| Spread versus German benchmark | 21.1 basis points |
| Lead managers | Danske Bank, Goldman Sachs Bank Europe SE, J.P. Morgan and SEB |
Distribution by investor type
| Central Banks / Official institutions | 30% |
| Asset Managers / Fund Managers | 29% |
| Banks | 24% |
| Insurance / Pension funds | 15% |
| Hedge funds | 2% |
Distribution by region
| Nordic | 40% |
| Other Europe | 36% |
| UK | 20% |
| Asia | 4% |
Contact
Johan Bergström, Head of Funding, +46 8 613 45 68
Sofia Björk, Funding manager, +46 8 613 52 74