SEB successfully launched MUSD 600 core capital contribution securities ("hybrid tier 1") in the US market last week. The launch is a means for SEB to optimise its capital base. As a substantial part of SEB's lending is in USD, the issuance also contributes to hedge the capital base.
"We are very glad that once again SEB was very well received in the US market. The hybrid tier 1 deal was priced at the tightest spread ever in the market at US Treasury +97 basis points", says Nils-Fredrik Nyblæus, Chief Financial Officer and Chief of Staff.
The SEB Group is a North European financial group for corporate customers, institutions and private individuals, with 670 branch offices around Sweden, Germany, the Baltic States and Poland. SEB has more than 5 million customers, of whom 1.9 million are e-banking customers. On 30 December 2004, the Group's total assets amounted to SEK 1,591bn while its assets under management totalled SEK 886 bn. The Group is represented in some 20 countries around the world and has a staff of about 18,000. Read more about SEB at www.sebgroup.com.