SEK Issues €1 Billion Bond
Today SEK priced a EUR 1 billion 5-year bond. With already three successfull USD benchmark notes this year SEK has completed a 1 billion EUR note. A majority of the around 50 different investors was European, a large part of these accounts were new to SEK.
This funding transaction was carried out together with Credit Agricole CIB, Deutsche Bank, HSBC and JP Morgan.
- We are very pleased to be back in the European market with a EUR benchmark trade and by this diversify our already broad investor base, says Erik Hådén Senior Director, Head of Treasury, at SEK. The proceeds will be used in SEK's activities to support Swedish exporters and their customers with financing.
The breakdown by investor type was as follows:
| Central banks and government institutions | 39% |
| Banks | 34% |
| Funds | 12% |
| Corporates | 11% |
| Insurance companies and pension funds | 4% |
The breakdown by region was as follows:
| Europe excl. the Nordics | 71% |
| Nordics | 20% |
| Asia | 5% |
| Americas | 4% |
SEK continues to retain good capacity to support companies with long-term financing. Its conservative business model provides great reassurance for exporters. SEK matches its lending and borrowing, which means it incurs no refinancing risk. It is reassuring for exporters to know that when they obtain financing from SEK, SEK has already secured the necessary funding over at least the same maturity.
Please direct any questions to the Funding team, sekfunding@sek.se, or SEK's Head of Communications Edvard Unsgaard on +46 8 613 84 88
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