Bifogade filer
Terms for switches to new government bond SGB 1067
Prenumeration
The Swedish National Debt Office will in the beginning of June introduce a new government bond, SGB 1067, maturing on 15 October 2036. The Debt Office will sell SEK 6 billion each in the first two auctions and then offer switches to the new bond for a total of SEK 6 billion.
The coupon of the new bond will be published on Wednesday 28 May at 12:05, ahead of the first auction which will be held on Wednesday 4 June. After the following auction on 11 June, the Debt Office will offer switches to SGB 1067 X% 15 Oct 36 from SGB 1065 1.75% 11 Nov 33, SGB 1056 2.25% 1 Jun 32 and SGB 1053 3.50% 30 Mar 39. The switches will be made price risk neutral.
Switch auctions
| Thu 12 June Risk neutral [1] | Fri 13 June Risk neutral [1] | Mon 16 June Risk neutral [1] | |
| SNDO buys bond | 1065 | 1056 | 1053 |
| SNDO buys amount (SEK million) [2] | 2,600 | 3,000 | 1,600 |
| SNDO sells bond | 1067 | 1067 | 1067 |
| SNDO sells amount (SEK million) | 2,000 | 2,000 | 2,000 |
| Time for yield on buy-back bond | 10.45 | 10.45 | 10.45 |
| Time for auction cut-off | 11.00 | 11.00 | 11.00 |
| Time for auction result | 11.03 | 11.03 | 11.03 |
[1] The market value of the purchase and sales volume multiplied by the modified duration of each respective bond shall be equal.
[2] The stated nominal volume of the bonds 1065, 1056 and 1053 is an approximation based on today's yields.
The switch auctions were announced in the publication Central Government Borrowing – Forecast and Analysis 2024:3 in November. The purpose of the switches is to build up volume in the new bond.
The bid yield on the buy-back bond will be published at 10:45 on the day of the auction on riksgalden.se/borrowing. Bids must be placed before 11:00 through the Debt Office’s primary dealers. The results will be published at 11:03 or somewhat later.
For more information, please contact:
Johan Bergström, Head of Funding, +46 (0)8 613 45 68
Anna Olofsson, Head of Analysis, +46 (0)8 613 45 98