8.3.2010
Municipality Finance named SSA Issuer of the Year
Municipality Finance Plc has been selected by large international banks as last year’s best issuer in the public sector entities’ category (MTN-i: Markets Choice, SSA Issuer of the Year).In addition to states (‘State’), the control group comprised multinational providers of funding (‘Supra’) and national issuers specialising in public funding (‘Agency’).In the Nordic countries, the best-known operators of the latter group are Kommunalbanken Norway (KBN) and Swedish Export Credit Corporation (SEK).
The grounds for the choice affirmed that what made Municipality Finance stand out from the competition were its speed, reliability and flexibility.It was flexibility and speed that helped the company succeed in last year’s extremely challenging market conditions, not to mention its acquisition of a record-breaking EUR 5.8 billion on international capital markets.Thanks to its successful funding, the company was able to operate as usual despite the market conditions and to finish the year as, basically, the only provider of funding for the municipal sector, which was struggling with the economic situation.
Municipality Finance Plc's loan portfolio increased by 29% in 2009, totalling EUR 9,741 million at the end of the year (Dec. 31, 2008: EUR 7,567 million).The company’s funding amounted to EUR 5,789 million (2008: EUR 4,527 million).
Voter comments regarding Municipality Finance:
”They have strived to achieve things, unlike others in their peer group. Municipality Finance has set a good example for the region.”
Asian Bank
”It is not one thing that makes them good, but a whole package put together.”
US Bank
”There are various little things that set them apart. They are open to all types of funding, vanilla and structured. They are the issuer that says yes.”
Eurozone Bank
For further information, please contact:
Pekka Averio, CEO, tel.+358 (0)9 6803 6211, +358 (0)500 406 856
Timo Ruotsalainen, Vice President, Head of Funding, tel.+358 (0)9 6803 5685, +358 (0)50 3861 753
