Municipality Finance Launches EUR 20 Million Notes for Growth
Municipality Finance Issuance of EUR 20 Million Notes
Municipality Finance Plc has taken a significant step by issuing EUR 20 million in notes through its Medium Term Note (MTN) programme. This strategic move is designed to enhance the company’s capacity for sustainable funding and support for various community projects.
Details of the Issuance
The issuance date of these notes is set for January 21, 2025, with a maturity date extending to January 21, 2030. The notes will carry a floating interest rate determined by the 3-month EURIBOR, plus a margin of 29 basis points. This structure not only provides flexibility but also aligns with market conditions.
MTN Programme Overview
This issuance falls under the broader framework of MuniFin’s EUR 50 billion programme dedicated to debt instruments. The company routinely engages in these issuances to maintain a strong balance sheet and secure funding for essential projects.
Admittance to Trading
MuniFin has expressed intentions for the notes to be officially listed and available for trading on the Helsinki Stock Exchange, which is managed by Nasdaq Helsinki. The anticipated date for public trading to commence aligns with the issuance date.
Roles of Key Players
In this issuance, Nordea Bank Abp has been appointed as the dealer. This collaboration ensures a streamlined process for managing the notes and providing necessary investment services.
About Municipality Finance
Municipality Finance Plc (MuniFin) stands as a pillar of Finland’s financial landscape, recognized as one of its largest credit institutions. The organization's ownership structure comprises Finnish municipalities, the public sector pension fund called Keva, and the Republic of Finland. With a total balance sheet exceeding EUR 50 billion, MuniFin operates with a commitment to social responsibility.
Commitment to Sustainability
Through its lending portfolio, MuniFin aims to build a more sustainable future. The organization supports municipalities and related entities in financing environmentally and socially responsible projects. These projects encompass a range of essential services, including public transport systems, sustainable housing, hospitals, educational institutions, and other crucial community facilities.
A Global Perspective
While MuniFin primarily serves domestic clients, it operates within a vast and interconnected global financial framework. The company has made notable strides in the international capital markets, establishing itself as a proactive issuer of bonds, including pioneering efforts in the green and social bond sectors.
Contact Information
For additional details, investors and interested parties can reach out to Joakim Holmström, the Executive Vice President for Capital Markets and Sustainability, at +358 50 444 3638.
Frequently Asked Questions
What are the terms of the newly issued notes?
The notes will have a floating interest rate tied to the 3-month EURIBOR plus 29 bps, maturing on January 21, 2030.
When will the trading of these notes commence?
Public trading of the notes is expected to begin on January 21, 2025.
Who acts as the dealer for this issuance?
Nordea Bank Abp serves as the dealer for the issue of the notes, facilitating the processes involved.
What is the purpose of these notes?
The issuance aims to bolster funding for sustainable investments and support necessary community projects across Finland.
How does MuniFin support sustainability?
MuniFin focuses on lending for environmentally and socially responsible initiatives, contributing significantly to the betterment of community infrastructure.
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