SEK in the news

  • SEK USD1bn 2.875% May 21

    • 17 May 2018
  • Scandis come but some SSAs skip dollars

    Big moves in US Treasury yields, swap spreads and the euro/dollar and euro/sterling basis swaps put paid to some dollar issuance this week as some borrowers held back and others tapped different currencies. But a pair of Swedish names did get deals done, and rates started to move back into more favourable areas, suggesting volumes could pick up again next week.

    • 17 May 2018
  • SEK impresses in ‘tricky’ market as Kommuninvest lines up

    Climbing US Treasury yields and tightening swap spreads are pushing out levels in dollars, but Swedish Export Credit Corporation (SEK) managed a successful three year trade — a good omen for an upcoming deal from Kommuninvest on Wednesday.

    • 15 May 2018
  • SEK to break dollar quiet in ‘new environment’

    Swedish Export Credit Corporation will bring a three week dearth of SSA dollar benchmark issuance to an end on Tuesday after mandating for a three year issue. A shift in Libor rates, swap spreads and secondary levels since the last glut of dollar supply should all make for a keenly watched trade, said bankers.

    • 14 May 2018
  • Funding scorecard: Nordic agencies

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

    • 27 Apr 2018
  • Sterling enjoys strong but likely short-lived deal spark

    The sterling SSA market snapped back into life with a flurry of new deals after a quiet few weeks — although bankers lamented that the issuance door may have closed just as quickly as it opened.

    • 15 Mar 2018
  • SEK USD1.25bn 2.875% Mar 23

    • 08 Mar 2018
  • Alberta opens up dollar 10s but fives expected to rule supply

    The Province of Alberta printed a strong 10 year dollar benchmark on Thursday — the first in that maturity from an SSA since late January — leading the way for others to follow, said SSA bankers. Elsewhere, five years was very much in vogue in the dollar market — although there were some signs of investor fatigue by the end of the week, despite more issuers being expected to look at the tenor next week.

    • 08 Mar 2018
  • SEK brings ‘textbook’ execution in dollars as Alberta looks long

    Swedish Export Credit Corporation on Wednesday priced what bankers away from the deal said was a “very strong trade”, as it printed in the same five year tenor that has brought success for SSAs over the last few weeks. But one borrower is set to attempt a tenor that has not been visited since late January.

    • 07 Mar 2018
  • OeKB hits five years as SEK lines up

    SSA borrowers are piling up in dollars. Swedish Export Credit Corporation (SEK) will bring a five year benchmark on Wednesday, coming on the heels of Oesterreichische Kontrollbank’s (OeKB) own deal in the tenor on Tuedsay.

    • 06 Mar 2018
  • Investors cheer Nordic harmonised reporting approach

    A position paper detailing a new unified approach to impact reporting by Nordic public sector green bond issuers has been welcomed by investors, who hailed its broad scope and detailed methodology as an important development for the market.

    • 25 Oct 2017
  • 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

Dealer League Table SEK

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 311.55 1 11.68%
1 Barclays 311.55 1 11.68%
1 Bank of America Merrill Lynch 311.55 1 11.68%
1 BNP Paribas 311.55 1 11.68%
5 Morgan Stanley 249.25 1 9.35%

European Sovereign Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 12,042.98 14 11.09%
2 JPMorgan 10,337.24 14 9.52%
3 Citi 9,260.37 15 8.53%
4 NatWest Markets 8,487.83 7 7.82%
5 HSBC 7,587.14 11 6.99%

Dollar Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 26,776.92 63 12.44%
2 HSBC 20,140.01 43 9.35%
3 JPMorgan 18,140.98 43 8.43%
4 Deutsche Bank 17,160.97 23 7.97%
5 Bank of America Merrill Lynch 15,557.62 48 7.23%

Bookrunners of Euro Denominated SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,798.45 41 8.65%
2 Barclays 19,533.57 31 7.75%
3 UniCredit 16,899.52 41 6.71%
4 HSBC 16,634.15 52 6.60%
5 BNP Paribas 16,072.48 29 6.38%

Bookrunners of Global SSA (Excl US Agency)

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 47,446.91 159 7.44%
2 JPMorgan 47,437.50 217 7.44%
3 HSBC 42,376.03 145 6.64%
4 Barclays 36,659.08 110 5.75%
5 Deutsche Bank 34,770.24 92 5.45%