MuniFin expands its benchmark series with a $100 million tap

HELSINKI - Municipality Finance Plc (MuniFin) announced the issuance of a new $100 million tranche under its Medium Term Note (MTN) program, expanding an existing benchmark initiated earlier this year. The additional funds, set to be issued on Wednesday, May 21, 2025, will increase the total nominal amount of the benchmark to $500 million.

The benchmark, which was first issued on January 22, 2025, carries a floating interest rate tied to the Compounded Secured Overnight Financing Rate (SOFR) plus 100 basis points per annum and is set to mature on February 2, 2029.

This latest tranche is part of MuniFin’s substantial $50 billion debt instrument issuance program. The offering and final terms of the benchmark are detailed in documents available in English on MuniFin’s website.

In line with the issuance, MuniFin has sought approval for the benchmark to be listed and traded on the Helsinki Stock Exchange, managed by Nasdaq Helsinki, with public trading expected to commence on the issue date. The current notes in the series are already trading on this exchange.

Bank of Montreal Europe PLC is serving as the Dealer for this new issue.

MuniFin, with a balance sheet exceeding EUR 53 billion, is among Finland’s principal credit institutions. Its ownership includes Finnish municipalities, the public sector pension fund Keva, and the State of Finland. The company specializes in providing loans for projects that have positive social and environmental impacts, such as sustainable public transport, healthcare facilities, educational institutions, and housing for vulnerable groups.

The company has a global presence in the capital markets and is recognized as a pioneering issuer of green and social bonds in Finland. The Municipal Guarantee Board exclusively guarantees MuniFin’s funding.

The press release notes that the information provided does not constitute an offer of securities for sale in the United States, as the notes have not been registered under the U.S. Securities Act of 1933. The release, publication, or distribution of this information is prohibited in jurisdictions where such actions would be unlawful.

This article is based on a press release statement from Municipality Finance Plc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.