LONDON, March 21 (IFR) - The Kingdom of Sweden, rated Aaa/AAA/AAA, on Thursday mandated Barclays, Deutsche Bank and HSBC as joint lead managers for a RegS/144a three-year US dollar benchmark.
Marketing for the transaction, which is due in March 2016, is underway at mid-swaps -6bp area, bankers involved said, and the bond is expected to price later on Thursday.
Sweden was last in the public market in February when it issued a USD3bn deal as part of a move to bolster its foreign reserves.
Barclays, Citi, Credit Suisse and Goldman Sachs priced that 1.0% five-year issue flat to mid-swaps, equivalent to Treasuries plus 16.1bp.
The transaction came on the heels of a EUR4bn five-year bond issued in late January, after Sweden’s debt office was ordered by the central bank to raise an extra SEK100bn (USD15.4bn) in foreign currency reserves in 2013.
Reporting By Josie Cox, editing by Julian Baker