By William Gullotti and Cristal Cody
Buffalo, N.Y., July 26 – Swedish Export Credit Corp. (Aa1/AA+) priced $800 million of four-year global floating-rate notes on Tuesday, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 101.67 with a coupon at SOFR plus 100 basis points, subject to a floor of 0%, to yield SOFR plus 57 bps.
Pricing was on top of initial spread talk in the SOFR plus 57 bps area.
The notes may only be called after the occurrence of certain tax events at par plus accrued and unpaid interest.
Barclays Bank Ireland plc, Daiwa Capital Markets Europe Ltd. and Nomura Financial Products Europe GmbH are the joint lead managers.
Application will be made to list the notes on Euronext Dublin.
Swedish Export Credit is a Stockholm-based financial services company for the Swedish export industry.
| Issuer: | Swedish Export Credit Corp.
|
| Amount: | $800 million
|
| Proceeds: | $813.2 million
|
| Issue: | Global floating-rate notes
|
| Maturity: | Aug. 3, 2026
|
| Joint lead managers: | Barclays Bank Ireland plc, Daiwa Capital Markets Europe Ltd. and Nomura Financial Products Europe GmbH
|
| Coupon: | SOFR plus 100 bps, floor of 0%
|
| Price: | 101.67
|
| Yield: | SOFR plus 57 bps
|
| Call: | Only after certain tax events at par plus accrued and unpaid interest
|
| Pricing date: | July 26
|
| Settlement date: | Aug. 3
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Distribution: | SEC registered
|
| Price talk: | SOFR plus 57 bps area
|
| Cusip: | 87031CAF0
|
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