HELSINKI - Municipality Finance Plc (MuniFin) announced the issuance of a EUR 100 million tap under its Medium-Term Note (MTN) program, expanding an existing benchmark that was initially issued on August 29, 2024. This addition, set to be released on December 5, 2024, brings the total nominal amount of the benchmark to EUR 1.1 billion. The notes from this issuance have a fixed interest rate of 2.500% per annum and are scheduled to mature on August 29, 2029.
The tap is part of MuniFin's extensive EUR 50 billion debt instrument program. The offering and supplemental circulars, along with the final terms, are accessible in English on the company's website.
MuniFin has sought to list the new tranche on the Helsinki Stock Exchange, operated by Nasdaq Helsinki, with public trading expected to commence on the day of the issue. The existing notes in the series are already traded on the Helsinki Stock Exchange. J.P. Morgan SE is the dealer for this new tranche issue.
MuniFin, a significant Finnish credit institution, is owned by a combination of Finnish municipalities, the public sector pension fund Keva, and the Republic of Finland. The company's balance sheet exceeds EUR 50 billion. MuniFin is committed to supporting environmentally and socially responsible investments, such as sustainable infrastructure and public service buildings, through its lending services. Although the company's clients are domestic, it operates globally in the capital markets and is recognized as the first Finnish issuer of green and social bonds. The Municipal Guarantee Board exclusively guarantees all funding.
This issuance is part of MuniFin's strategy to finance projects that contribute to a sustainable future, including public transportation, sustainable buildings, and social housing. The information is based on a press release statement, and the new tranche's admission to trading is pending approval by the Helsinki Stock Exchange.
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