HELSINKI – Municipality Finance Plc, a prominent Finnish credit institution, has announced its decision to buy back EUR 10 million worth of notes earlier than planned. The bonds, identified by ISIN XS2581756629, will be fully redeemed on January 31, 2025.
The early redemption affects securities currently traded on the Helsinki Stock Exchange, which is managed by Nasdaq Helsinki. Municipal Finance, also known as MuniFin, initiated the process of removing these banknotes from the stock exchange.
The move by MuniFin, an organization owned by Finnish municipalities, public sector pension fund Keva and the Republic of Finland, is part of their management of financial instruments under the company’s Medium Term Bond (MTN) programme. MuniFin’s balance sheet is significant, exceeding EUR 50 billion, and it stands as one of the largest bond issuers in Finland, including being the first to issue green and social bonds in the country.
MuniFin’s clientele is primarily domestic, consisting of municipalities, joint municipal authorities, counties with welfare services and various non-profit organizations. These entities use MuniFin’s lending services for environmentally and socially responsible investments, such as public transportation development, sustainable buildings, health care facilities, educational facilities and housing for people with special needs.
The company operates in a global business environment, despite its customer base being within Finland. Its financing is fully provided by the Municipal Guarantee Committee.
This announcement is based on a press release and does not constitute an offer to sell or the solicitation of an offer to buy any securities. It is specified that the notes are not, and will not be, registered under the US Securities Act of 1933, as amended, and may not be sold within the United States or to US persons unless there is an exemption from registration or transaction not subject to registration requirements.
MuniFin’s Executive Vice President for Capital Markets and Sustainability, Joakim Holmström, is available for further information regarding this financial maneuver. The early redemption of these bonds is part of MuniFin’s strategic financial management and reflects its ongoing engagement in international capital markets.
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