CONDITIONS FOR PURCHASES FROM RIKSBANK DE COMMERCIAL

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The full terms and conditions can be found at http://www.riksbank.se

https://www.riksbank.se/sv/penningpolitik/penningpolitiska-instrument/kop-av-foretagscertifikat/

Tender procedure on September 23, 2020

Certificate: Commercial paper issued in SEK by non-financial companies having their registered office in Sweden and with a maximum residual maturity of six months on the date of the Offer, i.e. with a maturity no later than 23 March 2021.

Delivery cannot be made in commercial paper purchased by the Counterparty from the issuer less than one week before the date of announcement of the Special Conditions, i.e. the purchase cannot have been made. after September 14, 2020.

Auction: Counterparties can bid by credit rating class and maturity class.

Offers are made by tel 08-696 69 70 and confirmed by e-mail to [email protected].

Offer date: Wednesday 23 September 2020
Auction time: 0900-0930 hours (CEST) on the date of submission
Requested volume: (corresponding nominal amount) 4 billion Swedish kronor
Highest authorized auction volume:

(corresponding nominal amount)

The total volume of counterparty offers for both credit rating classes may not exceed SEK 4 billion.

No offer may contain commercial paper for an amount exceeding SEK 250 million issued by the same issuer.

Lowest authorized auction volume:

(corresponding nominal amount)

The total volume of a Counterparty’s bids must not be less than SEK 100 million and must not be less than SEK 20 million per commercial paper (ISIN code).
Credit Rating Classes: The requested volume is divided into two credit rating classes. Credit rating refers to the credit rating of the issuer. The credit rating may also refer to the parent company of the issuer in cases where the issuer does not have its own credit rating and the parent company guarantees the obligations of the issuer. If there are credit ratings from more than one rating agency, the higher of them will be applied. If there is both a long term credit score and a short term credit score, the higher of them will be applied.

Class 1: Not less than a long-term credit rating of A- with S&P, A3 with Moody’s, A- with Fitch, A- with Nordic Credit Rating or A- with Scope, or not less than a short-term credit rating of A-2 with S&P, P-2 with Moody’s, F2 with Fitch or N-1 + with Nordic Credit Rating.

Class 2: Not less than a long-term credit rating of BBB- with S&P, Baa3 with Moody’s, BBB- with Fitch, BBB- with Nordic Credit Rating or BBB- with Scope or not less than a short-term credit rating of A-3 with S&P, P-3 with Moody’s, F3 with Fitch or N-1 with Nordic Credit Rating.

However, no credit score can be lower than the lowest accepted credit score level. There should also be no indication on the date of submission that a credit score may be below the lowest accepted credit score level.

Price (purchase price): Certificates with a residual maturity of three months or less on the date of the Offer, i.e. with a maturity date of December 23, 2020 at the latest:
Class 1: 0.45%
Class 2: 0.75 percent
Certificates with a residual maturity of six months or less on the date of the Offer, i.e. with a maturity date of March 23, 2021 at the latest:
Class 1: 0.55 percent
Class 2: 0.85 percent
Anticipated allocation time: 1000 (CEST) on the date of the Offer
Delivery and payment date: Friday 25 September 2020
Delivery of commercial paper: To Riksbank account in Euroclear Sweden AB’s securities settlement system 1 4948 6383
Terms and conditions General Terms and Conditions for Purchases of Riksbank Commercial Papers via 2020 Offer Procedures: 1, dated March 30, 2020 (see Riksbank website).

Stockholm, September 21, 2020

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