Commentary & Deal Flow

IPTs: 10yr: SOFR MS+50a (currently ~CT10+11.2)

• Issuer: Republic of Finland
• Ticker: FINL
• LEI Code: 743700M6Y2OQRVSBRD14
• Ratings: Aa1/AA+/AA (Moody's/S&P/Fitch - s/n/s)
• Format: Senior, unsecured, Reg S/144A, CAC, registered, NSS (for Reg S Tranche)
• Size: US$ Benchmark
• Maturity Date: 03-Jun-36
• Settlement Date: 03-Jun-26 (T+5)
• IPTs: SOFR MS (S/A, 30/360)+50a (currently ~CT10+11.2)
• Coupon: Fixed, Semi Annual, 30/360, unadjusted
• Denominations: US$200k + US$1k
• Documentation: Issuer's EMTN Programme
• Listing: Helsinki Stock Exchange (regulated market)
• Governing Law: English Law
• Clearing: Euroclear / Clearstream / DTC
• Target Market: The target market for the Bonds is eligible counterparties and professionals (all channels for distribution), each as defined in MiFID II / UK MiFIR.
• Lead Managers: Danske/GS/Nomura/SG
• Fees: A fee will be paid in connection with the transaction
• Timing: Taking IOIs, expect tomorrow's business (5/27)