Municipality Finance Launches NOK 3 Billion Notes Offering
Municipality Finance Unveils NOK 3 Billion Notes Offering
Municipality Finance Plc is excited to announce the issuance of NOK 3 billion in notes, scheduled to take place on 15 January 2025. This strategic move is part of the company’s commitment to strengthen its capital base and support sustainable financing efforts.
Details of the Notes Issuance
The notes set to mature on 15 January 2030 will feature a floating interest rate, determined by the 3-month Nibor plus an additional 25 basis points per annum, demonstrating a competitive and attractive structure for investors. This issuance comes under MuniFin's extensive EUR 50 billion programme dedicated to the issuance of diverse debt instruments.
Admission to Trading on Helsinki Stock Exchange
MuniFin has taken steps to ensure that these notes will be listed on the Helsinki Stock Exchange, managed by Nasdaq Helsinki. This admission is expected to kick off trading on 15 January 2025, opening new opportunities for investors and enhancing market liquidity.
Collaboration with Leading Financial Institutions
To facilitate this issuance, Municipality Finance has partnered with notable financial institutions, Nordea Bank Abp and DNB Bank ASA, who will serve as Joint Lead Managers, ensuring a robust marketing strategy and successful distribution of the notes.
About Municipality Finance
Municipality Finance Plc, known as MuniFin, stands as one of Finland's largest credit institutions. A mixture of Finnish municipalities, the public sector pension fund Keva, and the Republic of Finland holds ownership of the company, giving it a strong backing. With a group balance sheet exceeding EUR 50 billion, MuniFin is well-positioned in the financial landscape.
Commitment to Sustainable Investment
What sets MuniFin apart is its dedication to fostering environmentally and socially responsible investments. The company primarily lends to municipalities and related entities, supporting initiatives such as public transportation, healthcare facilities, educational institutions, and affordable housing projects designed for those with special needs.
Global Presence in Capital Markets
Despite its domestic customer base, MuniFin operates within a global business environment. The company not only engages actively in Finland's capital markets but is also recognized as the first Finnish issuer of green and social bonds. The Municipal Guarantee Board guarantees all funding, ensuring strong credit quality.
Contact Information
For more insight into MuniFin’s operations or inquiries regarding this note issuance, Joakim Holmström, Executive Vice President for Capital Markets and Sustainability, is available at +358 50 444 3638.
Frequently Asked Questions
What is the purpose of the NOK 3 billion notes issuance?
The NOK 3 billion notes are intended to enhance MuniFin's capital base and support sustainable financing initiatives across various public sectors.
When will trading for these notes begin?
Trading for the NOK 3 billion notes is set to commence on 15 January 2025 on the Helsinki Stock Exchange.
What is the interest structure of the notes?
The notes will feature a floating interest rate, pegged to the 3-month Nibor plus an additional 25 basis points.
Which financial institutions are involved in this issuance?
Nordea Bank Abp and DNB Bank ASA are serving as the Joint Lead Managers for this notes issuance.
Who are MuniFin's primary customers?
MuniFin primarily serves Finnish municipalities, joint municipal authorities, and entities involved in affordable social housing and community services.
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