Finland to conduct one or two tap auctions in the fourth quarter of 2016

HELSINKI: Finland's state treasury said on Friday it expected to arrange one or two tap auctions of existing euro benchmark bond lines in the last quarter of 2016.

The treasury said in its quarterly review that Finland's borrowing requirement for 2016 remained unchanged at 5.7 billion euros. Adding redemptions, the gross funding requirement for the year is 20.2 billion euros.

On Tuesday Finland became the third euro zone sovereign to see its 10-year borrowing costs turn negative as part of a broad rally in euro zone bonds.