Terms for exchanges to a new government bond
(Thomson Reuters ONE) -
The Swedish National Debt Office is introducing a new government bond (loan
1054) maturing on 1 June, 2022. See terms of sale onwww.riksgalden.se. The
auction terms will be published on Wednesday, 2 February at 4.20 pm. The coupon
will also be published then. The loan was announced in the publication Central
Government Borrowing - Forecast and Analysis 2010:3 in November.
On Wednesday, 9 February SEK 2 billion of loan 1054 will be issued in a first
auction. To quickly build up volume in the new loan, the Debt Office is offering
exchanges for loan 1052 (4.25 %, 12 March, 2019) and 1047 (5.0 %, 1 December,
2020), against in total SEK 20 billion in loan 1054 . The exchanges in loans
1052 and 1047 will be made risk price neutral[1].
The exchanges will take place during the period 10 - 15 February (four business
days after the first auction) according to the following timetable:
------------+-------------------------------------------------------------------
Date for |Time for Time for Time for SNDO SNDO SNDO SNDO
exchanges of|publishing auction auction buys buys sells sells
loan 1054 |yield on buy cut off result amount loan amount loan
|back loan (SEK mn) (SEK mn)
| [2]
------------+-------------------------------------------------------------------
Thu 10 feb |10.45 11.00 11.10 5,100 1047 5 000 1054
------------+-------------------------------------------------------------------
Fri 11 feb |10.45 11.00 11.10 6,300 1052 5 000 1054
|
Mon 14 feb |10.45 11.00 11.10 5,100 1047 5 000 1054
------------+-------------------------------------------------------------------
Tue 15 feb |10.45 11.00 11.10 6,300 1052 5 000 1054
|
The exchanges will be carried out in the form of auctions. The Debt Office will
notify the bid yield on the buy back loan on the PMI page for auction details
15 minutes before the cut off of the auction. The result will be notified on the
PMI page for auction results 10 minutes after the closing of the auction.
Further details about the result will be available on the PMI page for exchange
offers. The information will also be available on www.riksgalden.se.
The Debt Office is providing standing repo facility (T/N) in 1054, as well as in
the other government securities, at 40 basis points under the Riksbank's repo
rate.
For more information, please contact:
Magdalena Belin, Head of Analysis, +46 (0)8 613 52 28
Maria Norström, Head of Funding, +46 (0)8 613 46 35
--------------------------------------------------------------------------------
[1] The market value of the purchase and sale volume multiplied by the modified
duration of each respective bond
shall be equal.
[2] The stated nominal volume of loan 1047 and loan 1052 is only an
approximation calculated on the basis of today's
yields.
Read the press release as pdf:
http://hugin.info/133745/R/1470750/407604.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Riksgälden via Thomson Reuters ONE
[HUG#1470750]
Unternehmensinformation / Kurzprofil:
Datum: 09.12.2010 - 09:31 Uhr
Sprache: Deutsch
News-ID 49563
Anzahl Zeichen: 4048
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Terms for exchanges to a new government bond"
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