Municipality Finance Launches GBP 10 Million MTN Notes
Municipality Finance Issues GBP 10 Million Notes Under MTN Programme
Municipality Finance Plc is excited to announce the issuance of GBP 10 million notes as part of its Medium Term Note (MTN) programme. These notes are set to be released on 19 September and will mature exactly four years later, on 19 September 2029. They will accrue interest at a variable rate, tied to the 3-month SONIA Compounded Index, plus an additional 37 basis points per annum.
Overview of the MTN Programme
Through this initiative, Municipality Finance is tapping into its EUR 50 billion programme for issuing various debt instruments, reinforcing its solid presence in the market. The offering circular, supplemental circular, and final terms related to the notes will be accessible in English via the company’s official website.
Admission to Trading
There is great anticipation for these notes as MuniFin has applied for them to be listed on the Helsinki Stock Exchange, managed by Nasdaq Helsinki. Trading is anticipated to commence shortly after the issuance date, enabling investors to participate in the management and growth of significant public sector projects.
Role of RBC Capital Markets
RBC Capital Markets (Europe) GMBH has been appointed as the Dealer for this issuance. This partnership adds significant expertise and credibility to the transaction, ensuring that the issuance is conducted smoothly and effectively.
About Municipality Finance
MuniFin, which stands for Municipality Finance Plc, is one of Finland's leading credit institutions. Owned by various Finnish municipalities, the public sector pension fund Keva, and the State of Finland, MuniFin boasts a robust balance sheet exceeding EUR 55 billion. This financial strength allows the company to serve a diverse range of clients including municipalities, joint municipal authorities, and agencies focused on societal wellbeing.
Focus on Sustainable Investments
One of MuniFin's primary commitments is to promote environmentally and socially responsible investments. This includes financing public transport solutions, sustainable infrastructure projects, and affordable housing aimed at enhancing community welfare.
Global Operations
Although MuniFin primarily serves Finnish customers, its operations are positioned in a broader global financial landscape. The company actively issues bonds in international capital markets and is recognized as a pioneer in issuing green and social bonds for positive impact investing.
Future Implications
The issuance of these GBP 10 million notes underlines MuniFin's strategy to diversify its funding mechanisms and strengthen its role in supporting public sector projects. As a crucial player in the capital markets, MuniFin’s activities will continue to foster economic growth and sustainable developments across various sectors.
Frequently Asked Questions
What is the purpose of the GBP 10 million notes issued by MuniFin?
The notes are intended to raise funds for environmentally and socially responsible investments that benefit the public sector.
When will these notes be admitted to trading?
The notes are expected to commence trading on the Helsinki Stock Exchange on 19 September.
Who is the Dealer for this note issuance?
RBC Capital Markets (Europe) GMBH has been appointed as the Dealer for the issuance.
What type of interest rate do the notes carry?
The notes bear a floating interest rate linked to the 3-month SONIA Compounded Index, plus an additional 37 basis points.
Who are MuniFin's main clients?
MuniFin primarily serves Finnish municipalities, wellbeing service counties, and entities within the public sector, focusing on sustainable and socially responsible projects.
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