By Cristal Cody
Tupelo, Miss., June 20 – Municipality Finance plc (Aa1/AA+) priced a $250 million add-on to its floating-rate notes due Feb. 7, 2020 on Tuesday on top of talk with a yield of Libor plus 4 basis points, according to a market source.
Barclays, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. were the lead managers.
Municipality Finance originally sold $500 million of the floaters on Jan. 11 with a coupon of Libor plus 17 bps. The total outstanding now is $750 million.
The Helsinki, Finland-based credit institution provides funding for the public sector in Finland.
| Issuer: | Municipality Finance plc
|
| Amount: | $250 million reopening
|
| Description: | Floating-rate notes
|
| Maturity: | Feb. 7, 2020
|
| Bookrunners: | Barclays, RBC Capital Markets, LLC and Scotia Capital (USA) Inc.
|
| Coupon: | Libor plus 17 bps
|
| Yield: | Libor plus 4 bps
|
| Trade date: | June 20
|
| Ratings: | Moody's: Aa1
|
| S&P: AA+
|
| Price talk: | Libor plus 4 bps area
|
| Total outstanding: | $750 million, including $500 million priced on Jan. 11 at Libor plus 17 bps
|
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