Municipality Finance Enhances Growth with NOK 2 Billion Notes
Municipality Finance Issues NOK 2 Billion Notes
Municipality Finance Plc has announced an impressive initiative by issuing NOK 2 billion worth of notes as part of its ongoing Medium Term Note (MTN) programme. This issuance not only enhances the company's capital base but also supports various environmentally and socially responsible investment projects.
Details of the Issuance
The issuance will take place on 3 October 2024, with the maturity date set for 3 October 2029. The notes will carry a floating interest rate, calculated as 3-month Nibor plus an additional 19 basis points per annum. This structure is designed to attract a diverse array of investors while ensuring competitive returns.
Trading and Market Participation
Municipality Finance has taken steps to ensure the notes are admitted to trading on the Helsinki Stock Exchange, which is maintained by Nasdaq Helsinki. Public trading is expected to launch on 3 October 2024. This move will provide enhanced visibility for the notes, allowing both local and international investors to participate actively in the market.
Strategic Partnerships
In this noteworthy endeavor, DNB BANK ASA is acting as the Dealer for the issuance of these notes, leveraging their market expertise to facilitate the process. This collaboration underscores Municipality Finance's commitment to fostering strong partnerships within the financial ecosystem.
Funding Purpose and Impact
The primary utilization of the raised capital is aimed at environmentally and socially responsible investments. Municipality Finance Plc focuses on funding projects that contribute positively to society, such as public transportation systems, sustainable housing developments, and healthcare facilities. This strategy aligns with the current trends emphasizing sustainability in municipal financing.
About Municipality Finance
Municipality Finance Plc is among Finland’s largest credit institutions. With its balance sheet exceeding EUR 50 billion, the ownership is composed of Finnish municipalities, public sector pension fund Keva, and the Republic of Finland. The client base of MuniFin includes municipalities, joint municipal authorities, and corporate entities involved in social welfare.
Global Engagement and Bond Issuance
While MuniFin primarily serves domestic clients, it operates in a global setting, thereby allowing the company to tap into international capital markets. Notably, MuniFin has established itself as the first issuer of green and social bonds in Finland, showcasing its commitment to sustainable finance. Funding activities are covered by the Municipal Guarantee Board, providing robust security and confidence to investors.
Contact Information
For further inquiries about this issuance or other aspects of Municipality Finance, Joakim Holmström, the Executive Vice President of Capital Markets and Sustainability, is available for contact. His phone number is +358 50 444 3638.
Frequently Asked Questions
What is the purpose of the NOK 2 billion notes issuance?
The funds raised are directed towards supporting environmentally and socially responsible investment projects, such as public transportation and sustainable infrastructure.
When is the maturity date of the issued notes?
The notes are set to mature on 3 October 2029, providing a substantial timeline for investors.
Who is partnering with Municipality Finance in this issuance?
DNB BANK ASA is acting as the Dealer to facilitate the issuance of these notes.
Is this issuance part of a larger program?
Yes, the notes are issued under the EUR 50 billion Medium Term Note (MTN) programme of Municipality Finance Plc.
How can investors participate in the trading of these notes?
The notes will be available for public trading on the Helsinki Stock Exchange starting from 3 October 2024, allowing investors to engage actively in the market.
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