Terms for switches to new government bond SGB 1063

Terms for switches to new government bond SGB 1063

The Swedish National Debt Office will offer switches to the new 25-year government bond SGB 1063 from SGB 1053 to build up the outstanding volume. The switch auction will be held on 11^th of December 2020.

Switches to SGB 1063 0.5% 24 Nov 2045 from SGB 1053 3.5% 30 Mar 2039 will be made price-risk neutral. The total volume offered of SGB 1063 is SEK 3 billion.

Switch auction 11 December (price-risk neutral1)
SNDO buys bond	SGB 1053
SNDO buys amount (SEK mn)2	3 100
SNDO sells bond	SGB 1063
SNDO sells amount (SEK mn)	3 000
Time for yield on buy-back bond	10.45
Time for auction cut-off	11.00
Time for auction result	11.03

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¹ The market value of the purchase and sales volume multiplied by the modified duration of each bond shall be equal.

² The stated nominal volume of the buy-back bond is an approximation based on today's yields.

The bid yield on the buy-back bond will be published at 10.45 a.m. on the day of the auction on riksgalden.se/borrowing. Bids must be placed before 11.00 a.m. by the Debt Office’s primary dealers. The results will be published at 11:03 a.m. or somewhat later.

Contact
Johan Bergström, Acting Head of Funding, 08 613 47 68