STOCKHOLM, Sweden, Oct. 23, 2001 (PRIMEZONE) -- SEK issues USD 600 million 5-year benchmark with Nomura as lead manager. This is the largest issue SEK has launched in the public market in several years and the first reference note in three years.
The transaction is built on a highly successful road show undertaken in both Asia and Europe in August. Approximately 70% of the transaction is placed in Japan and Asia. This is a strategic issue and the aim is to further broaden SEK's investor base. SEK plays a very important public policy role in Sweden supporting industry and commerce.
The large volumes of credits outstanding and the amounts of offers for credits outstanding indicate the importance of a high liquidity. The proceeds of the transaction will be used for future lending business.
Borrower: AB Svensk Exportkredit/Swedish export Credit Corporation Lead Manager: Nomura Co-Leads: CSFB, Danske, DrKW, SSSB, UBS Warburg Nominal Amount: USD 600,000,000 Issue date: November 6, 2001 Maturity: 5 years (November 6, 2006) Coupon: 4.625% Re-offer Price: 99.535% Re-offer Spread: UST 4.625% of 05/06 + 84 bps Listing: London
AB Svensk Exportkredit (SEK)/Swedish Export Credit Corporation is a public stock corporation owned by the Swedish State (approximately 65%) and the global technology company ABB (approximately 35%). Since its founding in 1962, SEK has promoted Swedish industry and commerce, primarily the export industry, by providing competitive long-term financial solutions. SEK grants credit for exports as well as certain foreign and domestic investments, at either fixed or floating rates of interest.