The Republic of Finland raised EUR 4 billion with a new benchmark bond maturing on 15 April 2033. The bond attracted an order book of over EUR 11 billion from 120 investors.
The bond was priced at 15 bps over mid-swaps and 25 bps over the DBR 2.3% February 2033.
More than 40% of the new bond was allocated to central banks and official institutions, while a quarter was placed with banks and bank treasuries. The investor base was geographically well balanced across Asia & ME, the Nordic region, Benelux countries, and UK.
“The order book was once again of high quality and attracted a good number of investors. Finland has, on several occasions, been among the first sovereign issuers to return to the market post-summer, and the timing worked well for us again,” says Deputy Director Jussi Tuulisaari.
Recent economic data from Finland has been encouraging with GDP growth so far this year ranking among the strongest in the euro area. According to Tuulisaari, investor demand for Finnish government bonds remains very stable.
“We issued a comparable seven-year benchmark bond a year ago. Compared with that transaction, Finland’s spread to Germany at this maturity has tightened by nearly 10 basis points over the past year.”
The issue was lead-managed by BNP Paribas, BofA Securities, Danske Bank, Deutsche Bank and J.P. Morgan. The other primary dealers were also included in the syndicate group.
Details:
Issue amount: EUR 4 billion
Pricing date: 19 August 2026
Payment date: 26 August 2026
Maturity: 15 April 2033
Coupon: 3.300%
Price: 99.953
Yield: 3.310%
ISIN Code: FI4000609516
Further information: Deputy Director Jussi Tuulisaari, tel. +358 295 50 2616, firstname.lastname(at)statetreasury.fi