Finland's Treasury Expects to Complete Almost 70% of Annual Long-Term Funding by End-June

By Emese Bartha

Finland is expected to progress with annual debt issuance in the coming months, aiming to complete almost 70% of annual long-term funding by the end of June, the Finnish State Treasury said in its quarterly review on Thursday.

The government's latest supplementary budget proposal, dated March 21, sees gross borrowing of 43.185 billion euros ($46.76 billion) for 2024, marginally higher than the EUR43.05 billion estimated in December, the treasury said. The net borrowing requirement is estimated at EUR12.933 billion, it said.

In the second quarter, the treasury is planning to issue a second new euro benchmark bond, which may have a 10-year maturity; but if market conditions were to prove favorable for a longer maturity, for example 15 years, that could be considered, it said.

Write to Emese Bartha at [e-mail]

(END) Dow Jones Newswires

03-28-24 0414ET