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Covered bonds

The Swedish Covered Bond Act came into force on 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, which 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. 

Swedbank Mortgage's covered bond rating is AAA/Aaa from Standard & Poor's and Moody's.

 

Total outstanding covered bonds as per Q1 2025
Covered bondsNominal value SEKm
Domestic covered bonds281 725
International covered bonds94 164
Total375 889
SEK benchmark covered bonds (tap issuance)
Loan nrISINCoupon %MaturityOutstanding volume nom. value SEKm 30 May, 2025
SwedHyp 196SE00152449911.0018 Mar 202650 425
SwedHyp 197SE00168285291.0018 Mar 202748 650
SwedHyp 198SE00191755483.0015 Mar 202838 650
Swed Hyp 199SE00206790743.0028 Mar 202965 400
Swed Hyp 200SE00222393563.0027 Dec 202940 350
Swed Hyp 201SE00238484783.0029 Oct 203015 350
Historic outstanding volumes (PDF)
SEK benchmark covered bonds (Green)
ISIN codeCoupon%Trade dateMaturityAmount SEKmSpreadFinal terms
XS2909660271FRN20 Sep 202427 Sep 20293 0003m S+30bpFinal terms XS2909660271 (PDF)
XS29096610892.34220 Sep 202427 Sep 20297 000MS+30bpFinal terms XS2909661089 (PDF)

 

Non-SEK benchmark covered bonds, EURm
ISIN codeCoupon %Trade dateMaturity dateAmount EURmSpreadFinal terms
XS19467881940.529 Jan 201905 Feb 20261 000MS+13bpFinal terms XS1946788194 (PDF)
XS24870571061.37524 May 202231 May 20271 000MS+6bpFinal terms XS2487057106 (PDF)
XS26077818823.12529 Mar 202305 Jul 20281 000MS+18bpFinal terms XS2607781882 (PDF)
XS31044541062.50025 Jun 202525 Jun 20301 000MS+33bpFinal terms XS3104454106 (PDF)

 

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

Swedbank Guarantee and Swedbank Mortgage Account Undertaking