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 Q4 2024
Covered bondsNominal value SEKm
Domestic covered bonds261 425
International covered bonds99 957
Total361 382
SEK benchmark covered bonds (tap issuance)
Loan nrISINCoupon %MaturityOutstanding volume nom. value SEKm 31 Jan, 2025
SwedHyp 195SE00135460661.0018 Jun 202544 650
SwedHyp 196SE00152449911.0018 Mar 202654 425
SwedHyp 197SE00168285291.0018 Mar 202748 650
SwedHyp 198SE00191755483.0015 Mar 202837 450
Swed Hyp 199SE00206790743.0028 Mar 202963 350
Swed Hyp 200SE00222393563.0027 Dec 202927 750
SEK benchmark covered bonds (Green)
ISIN codeCoupon%Trade dateMaturityAmount SEKmSpreadFinal terms
XS2909660271FRN20 Sep 202427 Sep 20293 0003m S+30bpsFinal terms XS2909660271 (PDF)
XS29096610892.34220 Sep 202427 Sep 20297 000MS+30bpsFinal terms XS2909661089 (PDF)

 

Non-SEK benchmark covered bonds, EURm
ISIN codeCoupon %Trade dateMaturity dateAmount EURmIssuance spread Mid swapsFinal terms
XS2002504194

0.05

20 May 201928 May 20251250+54.5bpFinal terms XS2002504194 (PDF)
XS19467881940.529 Jan 201905 Feb 20261 000+66.1bpFinal terms XS1946788194 (PDF)
XS24870571061.37524 May 202231 May 20271 000+6bpFinal terms XS2487057106 (PDF)
XS26077818823.12529 Mar 202305 Jul 20281 000+18bpFinal terms XS2607781882 (PDF)

 

ECBC Covered Bond Label

Swedbank Guarantee and Swedbank Mortgage Account Undertaking