No results found for "".

Commentary & Deal Flow

Related Parents

Related Issuers

by Chris Reich

May 27, 2026 10:38 AM ET

PRICED: Republic of Finland US$1.5bn 10yr Sr Unsec; SOFR MS+48bp

IGC European Market: Deal Flow - SSAIGC US Market: Deal Flow - SSA

Issuer	Term	Coupon	Maturity	Size	Ranking	Type	Price	Yield	IPT	Spread	IPT-PXD
Republic of Finland	10yr	4.5%	03-Jun-36	US$1.5bn	Sr Unsec	Fixed	99.53	4.559%	SOFR MS+50a	SOFR MS+48	-2

Reoffer: 10yr: SOFR MS+48bp / 99.53 / 4.559%
Benchmark: 10yr: US TY 4.375% 15-May-36 (CT10: 99-08+ / 4.467%) / B+9.2bp / HR: 100%

Launched: 10yr: US$1.5bn @ SOFR MS+48bp - Books above US$3.75bn (ex JLM)
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 - stable/negative/stable)
Format: Senior, unsecured, Reg S/144A, CAC, registered, NSS (for Reg S Tranche)
Deal Size: US$1.5bn
Settlement Date: 03-Jun-26 (T+5)
Maturity Date: 03-Jun-36
Spread: SOFR MS+48bp
Coupon: 4.5%, Fixed, Semi Annual, 30/360 ICMA
Reoffer: 99.53 / 4.559%
UST Reference: 9.2bp vs US TY 4.375% 15-May-36 (CT10: 99-08+ / 4.467%), HR: 100%
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 Bank / Goldman Sachs Bank Europe SE (DM/B&D) / Nomura / Societe Generale
Fees: A fee will be paid in connection with the transaction
ISIN: XS3396019336 (Reg S) / US317873BK23 (144A)
Timing: Priced. TOE 14:40 LDN / 15:40 CET