Swedbank begins tender offer for some government-guaranteed notes

By Susanna Moon

Chicago, June 10 - Swedbank said it began a tender offer to the holders of certain series of its outstanding notes, which are guaranteed by the Kingdom of Sweden.

The offer is being conducted as part of the bank's ongoing liquidity management, according to a press release.

Swedbank said it last issued notes under the government guarantee program in the summer of 2009 and then exited the program in April 2010.

The notes have already been refinanced, and the liability management exercise aims to optimize the bank's funding structure while maintaining a prudent approach to liquidity, according to the release.

The financial services company is based in Stockholm.

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