Municipality Finance Issues €15 Million Notes for Growth
Municipality Finance Issues €15 Million Notes Under its MTN Programme
Municipality Finance Plc has announced the issuance of EUR 15 million notes as part of its Medium Term Note (MTN) programme. This significant financial move underscores the company’s commitment to fostering sustainable investments for public projects.
Details of the Issuance
The notes will be issued on 2 September 2024, featuring a maturity date set for 2 September 2054. Notably, Municipality Finance has the right, though not the obligatory, option to redeem these notes early on specified dates, namely 2 September 2027 and 2 September 2034.
Interest Rate and Terms
The notes carry a fixed interest rate of 3.727% per annum, providing investors with a steady income stream. Issued under MuniFin's impressive EUR 50 billion programme for debt instruments, these notes are expected to attract considerable interest from investors.
Trading on the Helsinki Stock Exchange
MuniFin has taken steps to have these notes admitted for trading on the Helsinki Stock Exchange, managed by Nasdaq Helsinki. Trading for these notes is anticipated to commence on 2 September 2024, allowing investors to engage actively in the marketplace.
Role of Landesbank Baden-Württemberg
Landesbank Baden-Württemberg will serve as the dealer for this issuance, facilitating the offering and ensuring a smooth trading experience for investors. This partnership enhances MuniFin’s reputation as a reliable entity in the financial markets.
About Municipality Finance Plc
Municipality Finance Plc, known as MuniFin, stands as one of Finland’s largest credit institutions. The ownership structure includes Finnish municipalities, the public sector pension fund Keva, and the Republic of Finland, reflecting a strong community backing.
A Commitment to Sustainability
MuniFin aims to build a better and more sustainable future through its lending practices. The clientele comprises municipalities, joint municipal authorities, wellbeing services counties, corporate entities, and non-profit organizations focused on socially and environmentally responsible projects.
Investment Focus Areas
The financing provided by MuniFin is directed towards critical public investment areas, including but not limited to transportation, sustainable building, healthcare facilities, schools, and support homes for individuals with special needs. This diverse commitment ensures that investments contribute to the overall well-being of communities.
Global Market Activity
Although MuniFin’s customer base is predominantly domestic, the company actively participates in global capital markets. MuniFin is recognized as a proactive issuer of bonds, including the first Finnish green and social bonds, which showcase its dedication to sustainable investment.
For More Information
For further details, interested parties can reach out to Joakim Holmström, the Executive Vice President of Capital Markets and Sustainability, at +358 50 444 3638.
Frequently Asked Questions
What is the purpose of the EUR 15 million notes issuance?
The issuance aims to support sustainable investments in public projects, helping MuniFin finance critical infrastructure and community initiatives.
What are the key terms associated with the notes?
The notes have a maturity date of 2 September 2054, an interest rate of 3.727% per annum, and options for early redemption on specified dates.
Where will the notes be traded?
The notes are expected to be traded on the Helsinki Stock Exchange, with public trading commencing on 2 September 2024.
Who is the dealer for the notes issuance?
Landesbank Baden-Württemberg has been appointed as the dealer for the issuance, ensuring a smooth transaction process for investors.
What type of projects does MuniFin fund?
MuniFin invests in environmentally and socially responsible projects, including transportation systems, healthcare facilities, and educational institutions, aimed at improving community welfare.
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