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 11th 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|
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.
Johan Bergström, Acting Head of Funding, 08 613 47 68