Asia stocks: S.Korea rises past Trump tariff threat, Australia flat ahead of RBA
HELSINKI - Municipality Finance Plc, a prominent Finnish credit institution, has announced its decision to redeem €10 million worth of notes earlier than scheduled. The notes, identified by the ISIN XS2581756629, will be redeemed in full on January 31, 2025.
The early redemption affects securities that are currently traded on the Helsinki Stock Exchange, operated by Nasdaq Helsinki. Municipality Finance, also known as MuniFin, has initiated the process to delist these notes from the exchange.
This move by MuniFin, an organization owned by Finnish municipalities, the public sector pension fund Keva, and the Republic of Finland, is part of their management of financial instruments under the company's Medium Term Note (MTN) program. MuniFin's balance sheet is substantial, exceeding €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, wellbeing services counties, and various non-profit organizations. These entities utilize MuniFin's lending services for investments that are environmentally and socially responsible, such as the development of public transportation, sustainable buildings, healthcare facilities, educational institutions, and housing for individuals with special needs.
The company operates in a global business environment, despite its customer base being within Finland. Its funding is entirely secured by the Municipal Guarantee Board.
This announcement is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities. It has been specified that the notes have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended, and cannot be sold within the United States or to U.S. persons unless there is an exemption from registration or the transaction is not subject to registration requirements.
MuniFin’s Executive Vice President of Capital Markets and Sustainability, Joakim Holmström, is available for further information regarding this financial maneuver. The early redemption of these notes is part of MuniFin's strategic financial management and reflects its ongoing engagement in the international capital markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.