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0.125% Sep-31 RFGB

FINLAND AUCTION PREVIEW
MNI (London)

Finland will come to the market on Tuesday to reopen E1.0bln of the originally 10-year on-the-run RFGB.

  • On offer will be the 0.125% Sep-31 RFGB. ISIN: FI4000507231
  • Auction history: The 0.125% Sep-31 RFGB was launched by syndication in May last year with E3.0bln sold (from bids of E13.0bln) and has since been re-opened three by auction in mid-June, October and November, the June and October saw similar auction sizes of E974mln and E941mln, whilst the November auction was significantly smaller with E460mln issued. The larger June auction resulted in a bid-to-cover of 1.77x at a yield of -0.015%, whilst the October auction was covered 1.49x at a yield of 0.070%.
  • The smaller, most recent November 16 reopening saw an average yield of -0.014% with a higher bid-to-cover of 1.99x.
  • Timing: Results are due shortly after the auction closes at 11:00 GMT / 12:00 CET.

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