MuniFin successfully issued a new USD 1 billion benchmark

On July 13th, 2016 MuniFin issued its first USD benchmark transaction for the year: a long 3-year USD 1bn note due 16th September, 2019. The note pays a fixed coupon of 1.125 % semi-annually, which equates to a spread of 28 basis points over the 3-year USD swap rate and a 39.4 basis point spread over the UST 0.750% due 15th July 2019. The Lead managers of the transaction were Citibank, Goldman Sachs, Nomura and Toronto-Dominion Bank.

The order book exceeded USD 1.9 billion and there were orders from nearly 50 accounts. 70 % of the transaction was sold to Central Banks and Official Institutions, 17 % to Bank Treasuries and 13 % to Asset Managers. EMEA was the dominant area with a 55 % share, Americas and Asia Pacific accounted for 35 % and 10%, respectively.

MuniFin plans to issue EUR 6.5bn in 2016 and after the completion of this transaction MuniFin is almost 80 % complete for the year.

More information:

Esa Kallio, Deputy to the CEO, Head of Capital Markets tel. +358 9 6803 6231

Joakim Holmström, Head of Funding tel. +358 9 6803 5674