Commentary & Deal Flow

Reoffer: 3yr: MS-5bp / 99.753 / 2.837%
Benchmark: 3yr: OBL #189 2.1% 12-Apr-29 @ 98.34 / B+12.2 / HR 106%

Final Books: Above €7.5bn (incl. €100m JLM interest)

Launched: 3yr: €2bn @ MS-5bp - Books above €7.5bn (incl. €100m JLM interest)
Guidance: 3yr: MS-3a

• Issuer: Kingdom of Sweden
• LEI: ERE94C0BSULG2RM19605
• Issuer Ticker: SWED Govt
• Issuer Rating: Aaa/AAA/AAA/AAA (Moody’s/S&P/Fitch/Scope)
• Format: Senior Unsecured, Reg S, Registered
• Size: €2bn
• Spread: MS-5bps
• Trade Date: 10-Jun-26
• Settlement Date: 18-Jun-26 (T+6)
• Maturity Date: 18-Jun-29 (3-years)
• Coupon: 2.75%, Fixed (FXD), Annual, ACT/ACT
• Re-Offer: 99.753% / 2.837% (+12.2bps vs. OBL #189 2.1% 12-Apr-29 TWIN @ 98.34 / 2.715%)
• Documentation: USD 50,000,000,000 Programme for the Issuance of Debt Instruments dated 28 September 2023
• Selling Restrict.: As per USD 50,000,000,000 Programme for the Issuance of Debt Instruments
• Governing Law: English
• Listing: London Stock Exchange
• Denominations: EUR 100,000 + EUR 1,000
• JLMs: BNP Paribas (B&D), Danske Bank, SEB and Swedbank
• Target Market: Manufacturer target market (MIFID II / MIFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs key information document (KID) or disclosure document required by the FCA Product Disclosure Sourcebook (DISC) has been prepared as not deemed within scope/not available to retail in EEA or in the UK
• ISIN: XS3408819749
• Timing: PRICED, T.O.E. 12:17 UKT / 13:17 CEST. FTT immediately
• Advertisement: https://www.riksgalden.se/contentassets/0ec2daef1268405986b39c6891f3c5c0/central-government-borrowing-2025-2.pdf