The Central Bank of Savings Banks Finland (Sp Central Bank) on Tuesday sold an inaugural Eu500m five year senior unsecured bond, reopening wholesale funding for the Savings Banks Group and achieving the issuer’s target of building a large, highly granular order book.

The Central Bank of Savings Banks Finland is planning an inaugural, senior unsecured bond in a move that will mark the reopening of wholesale funding for the Finnish Savings Banks Group.

Finland’s savings and cooperative banking groups are exploring covered bonds as a funding tool, although no decisions have been made, representatives of the banks told Nordic FIs & Covered.