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HELSINKI - Finnish credit institution Kuntarahoitus Oyj (Municipality Finance) will issue a $25 million tap to its existing reference bond on Friday, October 24, 2025, according to a press release statement.
The tap will increase the total size of the bond, initially issued on January 22, 2025, to $600 million. The bond matures on February 2, 2029, and carries an annual interest rate of Compounded SOFR plus 100 basis points.
The issuance falls under the company’s €50 billion debt program. Kuntarahoitus has applied for the reference bond to be admitted to public trading on the Nasdaq Helsinki Stock Exchange, with trading expected to begin on October 24, 2025.
Scotiabank Ireland DAC is serving as the arranger for the issuance.
Kuntarahoitus ranks among Finland’s largest credit institutions with a balance sheet exceeding €55 billion. The company is owned by Finnish municipalities, Keva, and the Finnish state. Its customer base includes Finnish municipalities, municipal federations, wellbeing services counties, their controlled entities, and state-subsidized housing production.
While the company serves domestic customers, it operates in a global environment as an active Finnish bond issuer in international capital markets. Kuntarahoitus’s funding is guaranteed by the Municipal Guarantee Board.
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