Municipality Finance Launches EUR 50 Million Note Offer
Municipality Finance Launches EUR 50 Million Note Offer
Municipality Finance Plc (LSE:IRSH) has recently announced the issuance of EUR 50 million notes, a significant development under its Medium Term Note (MTN) programme. This strategic move will enhance the company's ability to finance various community-focused projects.
Details of the Note Issuance
Set to be issued on 30 September 2024, these notes will mature on 30 September 2054. The notes offer a fixed interest rate of 3.548% per annum, providing attractive terms for investors. Importantly, MuniFin has the right, but not the obligation, to redeem these notes early on 30 September 2027, adding flexibility to its financial strategy.
Purpose and Background
The issuance falls under MuniFin’s extensive EUR 50 billion debt instrument programme, underlining its commitment to support financial wellbeing in communities across Finland. The funds raised from this note issuance will be directed towards projects that align with the organization's sustainable development goals.
Trading on the Helsinki Stock Exchange
MuniFin has applied for these notes to be admitted to trading on the Helsinki Stock Exchange, a move that is expected to greatly increase their market visibility. Public trading is anticipated to commence shortly after the issuance date, allowing investors to engage with these new financial instruments promptly.
Collaborative Expertise
UBS Europe SE is acting as the dealer for this issue, bringing its expertise in capital markets to facilitate a smooth process. The collaboration with a renowned financial institution highlights the confidence in Municipality Finance's financial strength and project viability.
Sustainability Focus
MuniFin is not just a financial institution; it plays a crucial role in the development of Finland’s infrastructure and community services. The organization focuses on lending for environmentally and socially responsible investments, particularly in sectors such as public transportation, healthcare, education, and housing for people with special needs.
Commitment to a Sustainable Future
As one of Finland’s largest credit institutions, MuniFin is uniquely positioned to contribute to sustainable development. It is owned by various stakeholders including Finnish municipalities and the public sector pension fund. The organization’s balance sheet exceeds EUR 50 billion, demonstrating its substantial capacity to support large-scale projects.
Global Presence and Domestic Focus
Despite serving primarily domestic customers, MuniFin operates within a global financial landscape. It is an active player in international capital markets, recognized as the first Finnish issuer of green and social bonds. This global presence allows MuniFin to tap into diverse funding sources while adhering to their mission of sustainability and community service.
Future Vision
By continuously focusing on sustainable lending practices, MuniFin aims to build a better future for its clients and the communities they serve. Projects funded will often address pressing social needs, such as improved healthcare facilities and educational institutions that cater to diverse populations.
Contact for Further Information
For those interested in more details regarding this note issuance or the broader activities of Municipality Finance Plc, contact Joakim Holmström, Executive Vice President of Capital Markets and Sustainability, at +358 50 444 3638.
Frequently Asked Questions
What is the interest rate of the new notes issued by MuniFin?
The new notes bear a fixed interest rate of 3.548% per annum.
What is the maturity date of the MuniFin notes?
The notes will mature on 30 September 2054.
Who is the dealer managing the issuance of the notes?
UBS Europe SE is acting as the dealer for this note issuance.
What types of projects does MuniFin finance?
MuniFin funds environmentally and socially responsible projects including transportation, healthcare, and educational facilities.
Where can the notes be traded?
These notes will be traded on the Helsinki Stock Exchange.
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