Issuer: Svensk Exportkredit
Amount: €10 billion
Programme launched: June 10 1991
Arrangers: BNP Capital Markets/SEK
The sudden reversal of dollar-yen rates in early May caught many investors by surprise. For the Japanese retail investors who had been profiting from dollar-bullish MTN structures for the preceding year it came as a rude awakening. “What has happened is very serious. There are a lot of investors who have lost large amounts of money,” says Per Akerlind, executive director and treasurer at Svensk Exportkredit (SEK).
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