Finnvera issued a USD 1 billion bond breaking records in pricing and investor demand

Finnvera issued a USD 1 billion bond on 21 May 2026. The 5-year transaction maturing in May 2031 was Finnvera’s first benchmark bond issue this year.

The orderbook grew exceptionally large, closing in excess of USD 3.5 billion, supported by 69 investors mainly from the central bank community and official institutions as well as banks and bank treasuries. Geographically, the investors came from Europe followed by Asia Pacific and Americas.

“We are delighted with the return to the USD market, achieving records in both pricing and investor demand in Finnvera’s history. Latest USD 1 billion, 5-year bond broke also other record − the tightest treasury spread achieved by any Nordic agency. Despite elevated levels of volatility in the global markets and substantial supply, the demand, especially from the high-quality accounts, remained strong. We are very pleased to see that investors have strong confidence in Finnvera's creditworthiness and the Finnish government's guarantee. Thanks to active investor relations work, we achieved an excellent result ", says Finnvera's Funding Manager Jarno Kosonen.

Joint lead managers were Bank of America, BNP Paribas, Citi and RBC Capital.

The bond was issued under Finnvera’s EMTN (Euro Medium Term Note) programme. Bonds issued under the EUR 17 billion programme are guaranteed by the Republic of Finland and their rating corresponds to the rating assigned to the Republic of Finland for its long-term liabilities. The rating given by Moody’s to Finnvera’s programme is Aa1 and that given by Fitch is AA.

In addition, Finnvera acquires short-term funding under the EUR 3 billion ECP debt security programme which is also guaranteed by the Republic of Finland.

Finnvera uses the acquired funds for financing export credits. The goal of the funding is making competitive financing available for the customers of Finnish export companies. The arrangement of buyer financing for foreign buyers is often a prerequisite for closing an export deal. Consequently, funding increases the impact of Finnvera’s financing operations and makes transactions possible for Finnish export companies.

Further information:

Jarno Kosonen, Funding Manager, Finnvera plc, tel. +358 50 386 1754