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~~~~~((#))016002000g-Government & Corporate Bonds

Finnish state treasury plans five-year bond issue

HELSINKI: The Finnish state treasury said on Monday it plans to issue a five-year benchmark bond maturing in 2008 and dropped plans for a 15-year issue.

"In December the State Treasury announced its intention to consider a 15-year bond issue later this year. Under current market conditions, such a plan is not ideal any longer," the treasury said in a statement.

Instead, the treasury said it would make the five-year issue.

"If the new issue is executed in the second quarter of the year, the state treasury (will) not arrange any bond auctions during that period," it added.

The treasury said it estimated the remaining long-term funding needs for 2003 to be 6.5 billion euros.-Reuters