Commentary & Deal Flow

Reoffer: 5yr: SOFR MS+33bp / 99.546 / 4.352%
Benchmark: 5yr: T 3.875 30-Apr-31 @ B+7bp

Final Books: In excess of US$3.2bn (excl. JLM interest)

Launched: 5yr: US$1bn @ SOFR MS+33bp - Books in excess of US$3.2bn (excl. JLM interest)
Guidance: 5yr: SOFR MS+35a - IOIs in excess of US$1.8bn (excl. JLM interest)
IPTs: 5yr: SOFR MS+37a

• Issuer: Finnvera (Finland's Export Credit and SME Financing Agency and guaranteed by the Republic of Finland)
• Ticker: FINNVE
• Ratings: Aa1/AA (Moody's/Fitch - Stable/Stable)
• Format: Reg S/144A
• Size: US$1bn
• Maturity: 29-May-31 (5yr)
• Settlement: 29-May-26 (T+5)
• Coupon: 4.25%, Fixed S/A, 30/360
• Reoffer: 99.546 / 4.352%
• Spread: SOFR MS+33bp
• Benchmark: +7bp vs T 3.875 30-Apr-31
• Governing Law: English
• Listing: Nasdaq Helsinki
• Denominations: US$200k + US$2k
• ISINs: XS3391836510 (Reg S) / US31808LAJ17 (144A)
• Docs: Issuer's EMTN Programme
• Target Market: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professionals only (all distribution channels)
• Leads: BNP/BofA/Citi/RBC
• Fees: A fee will be paid in connection to the transaction
• Pricing: 21-May
• Settle: 29-May