By Mary-Katherine Stinson
Lexington, Ky., March 25 – Municipality Finance plc issued $100 million of 5.22% step-up callable notes due 2029 (Aa1/AA+), according to a final terms sheet.
The notes priced at par.
The securities will bear interest at 5.22% initially. The interest rate will step up by 10 basis points annually on the March 26 interest payment date, beginning in 2025, unless redeemed early.
BofA Securities Europe SA is the dealer for the Regulation S notes.
The notes are issued under the company’s €45 billion program for the issuance of debt instruments.
Municipality Finance is a Helsinki, Finland-based credit institution that provides funding for the public sector in Finland.
| Issuer: | Municipality Finance plc
|
| Amount: | $100 million
|
| Issue: | Notes, series EMTN011/2024, tranche 1
|
| Maturity: | March 26, 2029
|
| Dealer: | BofA Securities Europe SA
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| Coupon: | 5.22% initially; steps up by 10 bps annually starting March 26, 2025 unless redeemed early
|
| Price: | Par
|
| Yield: | 5.22%
|
| Trade date: | March 19
|
| Settlement date: | March 26
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Distribution: | Regulation S
|
| ISIN: | XS2793209565
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