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Finland raises 1.5 billion euros in tap auction of two bonds
June 18, 2013 / 10:38 AM / 4 years ago

Finland raises 1.5 billion euros in tap auction of two bonds

HELSINKI, June 18 (Reuters) - Finland’s treasury said it raised 1 billion euros ($1.33 billion) in a tap auction of two government bonds, selling 10-year paper at an average yield of 1.774 percent.

Finland is one of only four euro zone states to hold a full set of triple-A credit ratings, although the country’s central bank recently forecast a second year in a row of economic contraction due to weaker exports.

The following details were provided by the treasury. Benchmark bond maturing in 2023: Coupon: 1.5% Maturity: 15 April 2023 ISIN: FI4000062625 Accepted amount: EUR 1 000 million Total amount of bids: EUR 1570 million Accepted price/yield: 97.55/1.774% Bid-to-cover ratio: 1.6 Amount outstanding after auction: EUR 5 billion Settlement date: 24 June 2013 Serial bond maturing in 2042: Coupon: 2.625% Maturity: 4 July 2042 ISIN: FI4000046545 Accepted amount: EUR 500 million Total amount of bids: EUR 1 276 million Accepted price/yield: 101.58/2.547% Bid-to-cover ratio: 2.6 Amount outstanding after auction: EUR 2.501 billion Settlement date: 24 June 2013 ($1 = 0.7492 euros) (Reporting by Helsinki Newsroom; Editing by John Stonestreet)

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