The World Bank announced today the launching of the first Swedish kronor issue ever done in the Euro-market. The issue, a SKr 500 million (US$ 78 million equivalent) public offering, will have a 5-year maturity. It will carry a coupon of 10.50 percent per annum, payable annually, and an offering price of 101.625 for a yield of 9.83 percent on a semi-annual equivalent basis. The bonds will be listed on the Luxembourg Stock Exchange.
The issue will be underwritten by an international syndicate, consisting of members from Sweden and other countries, lead managed by Skandinaviska Enskilda Banken with Svenska Handelsbanken -and PK Banken as co-lead managers. The net proceeds of the issue will be swapped into US dollars.