Municipality Finance Launches SEK 1 Billion Notes for Investors
Municipality Finance Launches SEK 1 Billion Notes
Municipality Finance Plc has officially initiated the issuance of SEK 1 billion notes. These notes will be issued on 21 February 2025, maturing on 21 February 2028. Their interest is pegged at a floating rate, calculated as 3-month Stibor plus 150 basis points annually, ensuring an adaptable return for investors.
Details of the MTN Programme
This issuance falls under MuniFin’s extensive EUR 50 billion programme designed specifically for debt instruments. For thorough details, the offering circular, supplemental offering circular, and the final terms of the notes are accessible in English on the company website.
Public Trading on Helsinki Stock Exchange
MuniFin has put forth an application for these notes to be listed on the Helsinki Stock Exchange, operated by Nasdaq Helsinki. Public trading is expected to commence on the date of issuance, 21 February 2025, opening the door for investors to engage with these newly issued notes.
Role of Danske Bank in the Issuance
Danske Bank A/S is the appointed Dealer for this note issuance, facilitating the process and ensuring a smooth transaction for stakeholders involved.
About Municipality Finance
MuniFin (Municipality Finance Plc) stands as one of the largest credit institutions in Finland. With a balance sheet exceeding EUR 53 billion, it is backed by various Finnish municipalities, the public sector pension fund Keva, and the State of Finland. The institution primarily serves municipal needs, ensuring that vital development projects receive financial assistance.
Customer Base and Funding Focus
MuniFin's clientele is vastly diverse, encompassing municipalities, joint municipal authorities, and various welfare service counties. Their lending focus includes fostering environmentally and socially responsible investments. Key projects funded include public transit systems, sustainable urban development, healthcare facilities, educational institutions, and community housing initiatives.
Global Operations and Bond Issuance
While MuniFin operates primarily within Finland, its business context is entirely global. The institution is recognized as an active player in international capital markets, being the first to issue Finnish green and social bonds. Funding efforts are thoroughly supported and guaranteed by the Municipal Guarantee Board.
Contact Information
For further inquiries, please reach out to Joakim Holmström, the Executive Vice President of Capital Markets and Sustainability, at +358 50 444 3638.
Frequently Asked Questions
What are the terms of the newly issued SEK 1 billion notes?
The SEK 1 billion notes bear interest at a floating rate, linked to 3-month Stibor plus 150 bps, with a maturity date of 21 February 2028.
Who is handling the issuance of the notes?
Danske Bank A/S is acting as the Dealer for the issuance, facilitating the transaction and details surrounding it.
When will the public trading of these notes commence?
Public trading of the notes is anticipated to start on 21 February 2025, coinciding with their issuance date.
What projects does MuniFin focus its lending on?
MuniFin focuses on environmentally and socially responsible investments, including public transportation, sustainable buildings, healthcare facilities, and schools.
How large is MuniFin's balance sheet?
MuniFin's balance sheet exceeds EUR 53 billion, reflecting its stature as one of Finland's largest credit institutions.
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