LONDON (MNI) – Finland’s State Treasury announced Wednesday that
it will tap the 3.125% Sept 2014 RFGB and 4.00% July 2025 RFGB issues on
Tuesday April 20.
In an emailed press statement, the Treasury said the total maximum
size will be E1.5 billion.
This is Finland’s first auction in the second quarter, and the
Treasury has already indicated that a second auction is most likely in
June.
In addition, Finland is “most likely” to launch a new 5-year bond
in the second half of the year.
Finland’s refinancing programme for the year 2010 is estimated to
be roughly E30 billion, with issuance split between Treasury Bills
(estimated volume E13-14 billion) and long-term bonds (estimated volume
E16-17 billion).
“The latter will include new benchmark bond issues and auctions on
existing benchmark lines. Also, the State Treasury will review the
possibilities of USD bonds as well as private placements within the
framework of its EMTN-funding programme”, added the press statement.
So far Finland has sold a 10-year benchmark issue for E4.0 billion
in March and the issuance of a 5-year bond marks a shift from its usual
strategy of issuing a five year and a 11-year benchmark bond in
alternate years.
— London newsroom: 00 44 20 7862 7494; e-mail: nshamim@marketnews.com
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