Municipality Finance Plc
Stock exchange release
19 May 2020 at 4:00 pm (EET)
Municipality Finance issues a SEK 200 million tap and a NOK 500 million tap under its MTN programme
On 22 May 2020 Municipality Finance Plc issues two new tranches to existing series of floating rate notes. The notes are issued under MuniFin’s 40 billion programme for the issuance of debt instruments. The offering circular is available in English on the company’s website at www.munifin.fi/investor-relations.
SEK 200 million tap to an existing series of floating rate notes
Municipality Finance Plc issues a new tranche in an amount of SEK 200 million to an existing series of floating rate notes originally issued on 31 March 2020. With the new tranche, the aggregate notional amount of the notes is SEK 1,200 million. The new tranche will become fungible with the existing notes in the series no earlier than 40 days after the issue date. The maturity date of the notes is 31 March 2022. The notes bear interest at a floating rate equal to 3-month Stibor plus 150 bps per annum.
MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 22 May 2020. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.
Nordea Bank Abp acts as the Dealer for the new tranche.
NOK 500 million tap to an existing series of floating rate notes
Municipality Finance Plc issues a new tranche in an amount of NOK 500 million to an existing series of floating rate notes originally issued on 11 January 2018. With the new tranche, the aggregate notional amount of the notes is NOK 3,850 million. The maturity date of the notes is 11 July 2023. The notes bear interest at a floating rate equal to 3-month Nibor plus 1.50% per annum.
MuniFin will apply for the new tranche to be admitted to trading on the Regulated Market of London Stock Exchange. The public trading is expected to commence on 22 May 2020. The existing notes in the series are admitted to trading on the London Stock Exchange.
SEB acts as the Dealer for the new tranche.
MUNICIPALITY FINANCE PLC
Executive Vice President, Capital Markets
tel. +358 9 6803 5674
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.
The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.
Read more: www.munifin.fi
The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.