HELSINKI, Feb 6 (Reuters) - Finland sold 3 billion euros ($3.7 billion) in an over-subscribed 2034 benchmark bond on Tuesday as it took advantage of investor demand for high-quality assets in a turbulent market.
The bond attracted an order book of about 11.4 billion euros from more than 120 investors, the state treasury said.
The debt was priced at 22 basis points below the euro swap curve. It has a coupon of 1.125 percent and a yield of 1.231 percent.
“The strong demand shows that, due to the stable credit rating outlook, investors view Finnish government benchmark bonds as a stable investment,” said State Treasury Deputy Director Anu Sammallahti.
Finland has an AA+ credit rating from Standard & Poor’s and Fitch and Aa1 from Moody‘s, all with a stable outlook.
The issue was lead managed by BNP Paribas, Citigroup, Danske Bank, J.P. Morgan and Nordea.
$1 = 0.8114 euros Reporting by Jussi Rosendahl; Editing by Susan Fenton