Finland's Big Move: A Billion NOK in Green Bonds

Finland's Municipality Finance Plc is making a bold move with a NOK 1 billion note issuance. These notes, maturing in 2032, feature a floating interest rate tied to the 3-month Nibor rate plus 18 basis points.

Part of a Larger Strategy

This issuance is just a piece of MuniFin's EUR 50 billion debt instrument program. Details are available on their website. The notes are set to be listed on the Helsinki Stock Exchange, with trading expected to begin shortly after issuance.

A Major Player in the Market

MuniFin is one of Finland's largest credit institutions, backed by Finnish municipalities and the state. With a balance sheet exceeding EUR 55 billion, they primarily serve domestic clients but operate globally. Known for their green and social bonds, MuniFin focuses on responsible investing, funding projects like public transport and sustainable buildings. Their bonds are secured by the Municipal Guarantee Board, making them a relatively safe investment.

A Note of Caution

These notes are not registered in the U.S., so American investors must ensure they meet specific exemptions before purchasing.