The first bond of the year issued in Swiss francs by Municipality Finance (MuniFin) was a great success in the market despite the tight pricing and long-term funding of 10 years. The coupon paid by MuniFin to investors is a record low at 0.75 per cent, which corresponds to mid-swaps -16 basis points.
Municipality Finance (MuniFin) issued on January 14, 2015 a 1 billion USD global benchmark loan to investors. The 5-year fixed rate benchmark loan offering was a 1.5 percent coupon interest rate and a 1.554 percent re-offer yield.
The credit rating agency Moody’s once again interprets that the future changes in the Finnish municipal system will benefit Municipality Finance (MuniFin), the largest lender to the Finnish municipalities.
The credit rating agency Moody’s believes that the new municipal law, proposed to the Finnish government on November 27th would be credit positive for Municipality Finance (MuniFin).
MuniFin (Municipality Finance Plc) issued a USD 1 billion benchmark on Tuesday September 16th. The orderbook grew to 1.5 billion US dollars despite the pricing was tightened during the process on the back of strong demand.