SEK in the news

  • SEK USD1bn 2% Aug 22

    • 24 Aug 2017
  • Tight spreads in dollars starting to cool investors’ appetite

    The SSA market leapt into life this week with multiple benchmarks hitting screens. While the backdrop was supportive, the narrow pick-up offered over US Treasuries appeared to be stunting demand.

    • 24 Aug 2017
  • SSAs keep it short in dollars but 10 year punt rumoured

    Public sector borrowers are mainly keeping to the short end of the dollar curve this week, but at least one top tier issuer is understood to be considering a 10 year dollar benchmark in the next few weeks.

    • 22 Aug 2017
  • World Bank prepares jumbo dollar test

    World Bank will find out whether what has been a resilient market for public sector dollar issuance over the summer can support a jumbo trade, after mandating for what will be the first such deal in dollars from an SSA since the spring. Swedish Export Credit Corporation is also out in the currency, going ahead despite some geopolitical and US governmental turmoil over the last few days — and more issuers are lining up to follow.

    • 21 Aug 2017
  • Funding scorecard: Nordic agencies

    This week's funding scorecard looks at the progress Nordic agencies have made in their funding through the first half of 2017.

    • 14 Jul 2017
  • GC BondMarker: featuring the post election deal flood

    The week commencing May 8 brought a wave of public sector borrowing. The victory of Emmanuel Macron in the French presidential election caused a wave of relief and signalled a blazing green light for issuance. See how the deals fared on GC BondMarker.

    • 18 May 2017
  • Thrill-seeking Japanese investors behind rouble rally

    Japanese investors are snapping up Russian rouble MTNs and Uridashi in their search for higher yields, with SSAs the beneficiaries.

    • 18 May 2017
  • SEK USD1.5bn 1.75% May 20

    • 11 May 2017
  • Dollar delight as swap spread moves and volatility brushed off

    Volatility late in the week failed to dampen a scorching few days of public sector dollar issuance, auguring well for more expected supply in the currency next week. Four issuers — some of which came this week to avoid other trades pencilled in for next week — were able to price deals at tight levels, with some coming through their curves.

    • 11 May 2017
  • SSAs dictate terms in dollars

    Public sector issuers “can do whatever they want” in a rampant dollar market, with investors ploughing into books despite deals pricing close to or flat to their curves.

    • 10 May 2017
  • SSAs storm back into dollars

    Public sector borrowers are rushing back into dollars after a quiet few weeks for the currency, with a trio of issuers taking indications of interest for Wednesday business.

    • 09 May 2017
  • Funding scorecard: Nordic agencies

    This week's funding scorecard looks at the progress Nordic agencies have made in their funding programmes.

    • 05 May 2017
  • SEK back in sterling as investors watch FX

    Swedish Export Credit Corporation (SEK) has returned to sterling for a tap of a December 2020 line, as investors’ confidence in the currency grows.

    • 03 Apr 2017
  • Inflation knocks shine off sterling SSA market

    A higher than expected UK inflation rate led to a sell-off in Gilts this week, a move that may put an end to what has been a remarkable run of traffic in sterling SSA bond issuance.

    • 23 Mar 2017
  • Asian interest sparks Kangaroo activity

    Japanese investors on the hunt for European SSA credit drove a flurry of long dated Australian dollar deals on Wednesday.

    • 22 Mar 2017
  • SEK launches sterling offer as Scottish independence rears head

    Svensk Exportkredit (SEK) hit screens for a sterling deal on Monday, raising £250m with a one day execution despite the announcement that the Scottish government will seek a second independence referendum.

    • 13 Mar 2017
  • Dollar floaters find favour in MTNs

    Short dated US dollar floating rate notes proved a popular product in the MTN market this week as some investors sought protection against a likely policy rate hike.

    • 09 Mar 2017
  • SEK USD1.4bn 2.375% Mar 22

    • 02 Mar 2017
  • SSAs enjoy ‘Goldilocks’ conditions in dollars, as March Fed hike looms

    US President Donald Trump’s first speech to Congress, a remarkable switch in Federal Reserve rate expectations and swap spreads falling from their early week highs all failed to derail a stellar week for public sector dollar issuance. More trades are expected to come next week, before the market quiets ahead of the Fed’s next rate decision and a Dutch general election where the far-right Party for Freedom (PVV) is expected to perform well.

    • 02 Mar 2017
  • SEK sears through with tight fives as FMS-W readies in twos

    Swedish Export Credit Corporation on Thursday added another cracking deal to a super strong week for dollar issuance, as FMS Wertmanagement lined up to take benchmark supply in the currency into Friday.

    • 02 Mar 2017

Dealer League Table SEK

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 TD Securities Inc 667.03 4 13.12%
2 Nomura 444.61 7 8.75%
3 Daiwa Securities 407.70 2 8.02%
4 BMO Capital Markets 399.13 2 7.85%
5 Citi 387.22 3 7.62%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Citi 17,773.39 25 9.05%
2 HSBC 16,094.53 24 8.19%
3 BNP Paribas 14,513.99 21 7.39%
4 Barclays 14,014.48 21 7.13%
5 Goldman Sachs 13,328.33 24 6.78%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 45,626.01 111 11.54%
2 Citi 45,298.31 115 11.46%
3 HSBC 31,954.47 73 8.08%
4 Bank of America Merrill Lynch 31,646.56 91 8.01%
5 Deutsche Bank 25,336.01 60 6.41%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 32,254.14 93 7.35%
2 UniCredit 31,545.41 101 7.19%
3 BNP Paribas 30,965.57 63 7.06%
4 Goldman Sachs 30,813.44 79 7.02%
5 Barclays 28,821.98 69 6.57%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 85,260.76 291 7.41%
2 JPMorgan 83,401.52 474 7.25%
3 HSBC 75,131.79 254 6.53%
4 Bank of America Merrill Lynch 62,436.52 190 5.43%
5 Goldman Sachs 58,162.93 154 5.06%