April 9, 2013 / 9:33 AM / 4 years ago

UPDATE 2-Finland attracts EUR8bn demand for new 10-year bond

(Adds book size, final spread)

By Aimee Donnellan and Josie Cox

LONDON, April 9 (IFR) - The Republic of Finland, rated Aaa/AAA/AAA, has attracted orders in excess of EUR8bn for its new 10-year bond, enabling leads to fix the final spread at mid-swaps minus 2bp for a EUR4bn transaction.

Leads Barclays, Credit Agricole CIB, HSBC, Nordea and RBS had initially started collecting indications of interest at mid-swaps flat area, before setting official guidance at mid-swaps flat to minus 2bp as orders surpassed EUR5bn. Books closed at 1000GMT on Tuesday.

Finland's last euro benchmark sold via syndication was a EUR4bn 1.625% September 2022 deal that priced at mid-swaps plus 3bp in August 2012.

That bond was bid at mid-swaps minus 10bp on Monday when the new supply was announced, according to Reuters data, but widened 5bp on Tuesday morning to trade at minus 5bp. (Reporting by Aimee Donnellan and Josie Cox; editing by Julian Baker)

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