HELSINKI, Jan 16, 2002 (Reuters) - Finnish forest industry group UPM-Kymmene said on Wednesday its more than one billion euro, dual-currency, benchmark bond had been heavily oversubscribed and its long-term funding was now well satisfied. "Demand has been very good, it has been heftily oversubscribed," said Juha Forsius, UPM-Kymmene senior vice president for treasury operations. Forsius declined to say how heavily the 600-million-euro ($529.1 million) and 250-million-pound ($359.4 million) bonds had been overbooked. But he said they had gone to institutional investors across Europe, especially in Britain, Germany and the Nordic countries. UPM-Kymmene, the world's third biggest papermaker, earlier priced the 10-year euro tranche at a coupon of 6.125 percent and a price of 99.872 and the 15-year sterling tranche at a coupon of 6.625 percent and a price of 99.594. UPM-Kymmene, which also has a 1997 10-year and 30-year dollar issue and a 1999 euro bond, issued the new bonds to refinance loans stemming from its acquisition last year of German magazine paper maker Haindl. The issue's lead managers were Barclays, Deutsche Bank and Schroder Salomon Smith Barney. UPM-Kymmene's debt is rated Baa1 by Moody's and BBB+ by Standard & Poor's.