Local Government Finance Co., Ltd.
stock exchange release
10:00 AM EEST on June 1, 2023
Local government financial problems be knock 2 bmillion taps under the MTN program
On June 2, 2023, Municipality Finance Plc issued a new tranche of NOK 2 billion against the existing series of banknotes issued on August 23, 2022. The new tranche brings the nominal value of the banknotes to NOK 3 billion. The bond has a maturity date of August 23, 2027. The bonds bear interest at a variable rate of 3-month Nibor plus 150 bps per annum.
The new tranche will be issued under MuniFin’s €45 billion program for bond issuance. The final terms and conditions of the offer letter and notes are available in English from the company’s website at www.munifin.fi/investor-relations.
MuniFin has applied to be allowed to trade the new tranches on the Helsinki Stock Exchange controlled by Nasdaq Helsinki. Public trading is expected to begin on June 2, 2023. Existing banknotes in the series are accepted for trading on the Helsinki Stock Exchange.
Skandinaviska Enskilda Banken AB will act as dealer for the issuance of the new tranches.
Municipal finance PLC
Executive Vice President, Capital Markets and Sustainability
Phone +358 50 444 3638
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The company’s owners include Finnish municipalities, the public sector pension fund Keba and the Republic of Finland. The MuniFin Group also includes a subsidiary, Financial Advisory Services Inspira Ltd. The Group’s total balance sheet is close to EUR 48 billion.
MuniFin builds a better and more sustainable future together with our customers. MuniFin’s customers include municipalities, municipal co-authorities, welfare service counties, legal entities under their control, and non-profit organizations nominated by the Finnish Housing Development Center (ARA). Loans are used for environmentally and socially responsible investments such as public transport, sustainable buildings, hospitals and medical centres, schools and day care centers, and housing for people with special needs.
MuniFin’s customers are domestic, but the company operates in a completely global business environment. The company is an active Finnish bond issuer in the international capital market and the first green and social bond issuer in Finland. Funds are guaranteed exclusively by the Local Guarantee Board.
Read more: www.munifin.fi
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