Sweden issues $2 billion Eurodollar bond
• Sweden loans €600 million to Ireland
Kingdom of Sweden plans to issue a new Eurodollar benchmark bond to the Riksbank, the Debt Office said Wednesday. The country raised 14 billion kronor ($2 billion) in the new two-year benchmark bond.
“We are very pleased to have been able to issue such a sizable amount this late in the year. Despite the current turmoil due to concerns over sovereign debt in some countries, the deal became very successful, said Maria Norström, Head of Funding at the Debt Office, in a statement.
The news came as Sweden's economy easily beat expectations to post record growth in the third quarter, driven by strong domestic demand, as the government warned against over-confidence.
Sweden's economy increased 6.9 percent in the third quarter after recording a revised 4.5 percent growth in the second quarter, the statistics office said Monday. The country is rated triple-A by all three major ratings agencies.
Last year the Debt Office borrowed 95 billion kronor in foreign currency on behalf of the Riksbank. Some of these loans mature in 2010. Wednesday's dollar deal is the second bond issue this year through which the Debt Office raises funds in order to cover redeeming loans.
The bond is issued via joint-lead managers Citigroup., Credit Suisse and Goldman Sachs.
Last Updated (Wednesday, 01 December 2010 09:22)









