Swedbank Mortgage, a division of Swedbank, has raised $2 billion in a sale of covered bonds in the 144a private placement market, The Wall Street Journal reports. Barclays, Bank of America Merrill Lynch, Deutsche Bank and HSBC were the joint bookrunning managers for the deal. The $1 billion notes sold in the first tranche are due to mature on March 28, 2014. The $2 billion notes sold in the second tranche carry a coupon rate of 2.95%, and are due to mature on March 28, 2016.

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