FINLAND – Municipality Finance Plc issued a €1 billion benchmark bond on Monday with a maturity date of June 14, 2033, according to a press release statement.
The bond carries a fixed interest rate of 2.750% per annum and was issued under the company’s €50 billion medium-term note programme for debt instruments.
J.P. Morgan SE, Natixis, Nordea Bank Abp and UBS Europe SE served as joint lead managers for the transaction.
Municipality Finance applied for the bond to be admitted to trading on the Helsinki Stock Exchange operated by Nasdaq Helsinki, with public trading expected to commence Monday.
The company is one of Finland’s largest credit institutions with a balance sheet exceeding €55 billion. It is owned by Finnish municipalities, public sector pension fund Keva and the State of Finland.
Municipality Finance provides lending to municipalities, joint municipal authorities, wellbeing services counties, joint county authorities and related organizations, as well as affordable social housing. The funding supports infrastructure projects including public transportation, buildings, hospitals, healthcare centers, schools and day care centers.
The company operates as an active bond issuer in international capital markets and describes itself as Finland’s first green and social bond issuer. Its funding is guaranteed by the Municipal Guarantee Board.
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