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Covered Bonds

Stockholm

The Swedish covered bond act came into force 1 July 2004. Swedbank set up its covered bond programme in April 2008 and issued its first covered bond in May 2008. Historically Swedbank issued public mortgage bonds through its fully owned subsidiary, Swedbank Mortgage AB, who also served as the mortgage institution of the group for the Swedish mortgage market. Today Swedbank Mortgage AB is the issuer of the Group´s covered bonds, making up the primary source of wholesale funding for the Group. Furthermore, Swedbank AB (publ) has issued a general, unconditional and irrevocable guarantee for Swedbank Mortgage AB for the purpose of maintaining the present credit rating of Swedbank Mortgage AB by the rating agency Moody's. The guarantee covers all non-subordinated debt instruments issued by Swedbank Mortgage AB and any such debt instruments being issued by the company in the future, until further notice.

Swedbank's covered bond rating is AAA from Standard & Poor's and Moody's



 

 

Total outstanding covered bonds as per Q2 2018

                                                                   Nominal value SEKm

Domestic covered bonds                     372 242

International covered bonds                175 178

Total                                                    547 420

SEK benchmark covered bonds (tap issuance)

Loan

nr

ISIN

Coupon

%

Maturity

Outstanding volume nom.
value SEKm 31 Aug, 2018
Spintab 187SE00042700153.752018-09-1934 340
Spinab 187FRSE00070451333mStibor+113bp2018-09-19 5 820
Spintab 188SE00042700233.752019-06-1923 683
Spintab 180SE00025765615.702020-05-1260 548
Spintab 180FRSE00081868783mStibor+127bp2020-05-126 461
Spintab 189SE00075256391.002020-12-1660 200
Spintab 190SE00075256471.002021-09-1547 950
Spintab 190FRSE00095801033mStibor+112bp2021-09-157 099
Spintab 191SE00075256541.002022-06-1565 800
SwedHyp 192 SE00101332071.002023-03-1534 152
SwedHyp 192FRSE00111677823mStibor+95bp2023-03-156 000
SwedHyp 193SE00110896221.002023-12-2012 700
Historic outstanding volumes   

Non-SEK benchmark covered bonds, EURm

ISIN

code

Coupon

%

Value

date

Maturity

date

Amount

EURm

Issuance spread

Mid swaps

XS09255255101.1252013-05-072020-05-071 000+13bp
XS12969485880.3752015-09-292020-09-291 250+7bp
XS13615486930.1502016-02-102021-02-101 250+14bp
XS10696748251.1252014-05-212021-05-211 000+8bp
XS12008378360.3752015-03-112022-03-111 000+45bp
XS15501406740.1252017-01-152022-07-181 000- 3bp
XS17783223510.452018-02-232023-08-231 000-10bp
XS16066339120.42017-05-082024-05-081 000- 6bp

Non-SEK benchmark covered bonds, GBPm

ISIN

code

Coupon

%

Value

date

Maturity

date 

Amount

GBPm 

Issuance spread

XS13121359053mGBPLibor + 38bp2015-10-292018-10-294003mGBPLibor + 38bp
XS15308353361.1252016-12-072021-12-07250G + 65 bps

Non-SEK benchmark covered bonds, USDm

ISIN

code 

Coupon

%

Value

date

Maturity

date

Amount

USDm 

Issuance spread

Mid swaps + 

XS12311164812.002015-05-122020-05-121 00037bp

Non-SEK Covered bonds, benchmark issuance, CHFm

ISIN

code 

Coupon

%

Value

Date

Maturity

Date 

Amount

CHFm 

Issuance

spreads

CH01230690382.1252011-02-082021-02-08100+15bp
CH01312206312.2502011-06-212021-06-21100+15bp
CH01299180712.5102011-06-032022-06-03150+16bp

ECBC Covered Bond Label

Swedbank Mortgage is a member of the ECBC Covered Bond Label Initiative. The labelled covered bonds issued by Swedbank Mortgage can be found on the ECBC Covered Bond Label website.

ECBC label initiative

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