Commentary & Deal Flow

Swedish Export Credit Corporation (SEK) (100% owned by the Kingdom of Sweden) Aa1/AA+ (s/s) US$500m SEC registered 4y global sr unsec FRN due 11/21/29. Citi/Nomura/Scotia (B&D) joint books. Listing: Irish Stock Exchange's Regulated Market (Euronext Dublin). Law: New York Law. Coupon: FRN, Compounded SOFR +[ ]bps, Quarterly, ACT/360. Convention: SOFR Index, where SOFR Index Start and SOFR Index End will be 5 days prior to Interest Period. First Pay: 2/23/26. Day Count: ACT/360. Denoms: USD 200k x USD 1k. Pricing 11/14. Settle 11/21 (T+5).

IPTs: SOFR+37 area.
GUIDANCE: SOFR+37 area.
UPDATE: spread set at SOFR+37.
LAUNCHED: $500m 4y at SOFR+37.

PRICED: $500m 11/21/29 FRN at SOFR+37, at 100.