After the encouraging results of the comeback to the Swiss bond market in May, MuniFin priced another CHF 100 million bond on 24 July. All 18 accounts that took part in the orderbook were Swiss investors. The 3-year bond pays an annual coupon of 1.6 % and Zürcher Kantonalbank acted as the sole manager for the deal.
“Despite a calm market due to summer holidays in Switzerland, MuniFin could access the short end of the market, which was favored by investors in light of the inverted swap curve. This marks the issuer’s second CHF trade in short sequence – proof that it is a very well known and liked name for Swiss investors”, says DCM Specialist Benjamin Heck from Zürcher Kantonalbank.
With this transaction, MuniFin has completed over EUR 7.3 billion of its EUR 9-10 billion long-term funding target for the year.
Transaction details
| Issuer | Municipality Finance Plc |
| Issuer Ratings | S&P: AA+ (stable) / Moody’s: Aa1 (stable) |
| Amount | CHF 100’000’000 |
| Tenor | 3 years |
| Coupon | 1.6000 % Fixed, Annual, (30/360) |
| Reoffer price | 100.015 % |
| Trade date | 24.7.2023 |
| Payment date | 4.8.2023 |
| Maturity date | 4.8.2026 |
| Lead Manager | Zürcher Kantonalbank |
| Listing | SIX Swiss Exchange |
| ISIN | CH1266847230 |
Read more
MuniFin returns to the Swiss bond market
Further information
Joakim Holmström – Executive Vice President, Capital Markets and Sustainability
+358 50 4443 638
Antti Kontio – Head of Funding and Sustainability
+358 50 3700 285
Karoliina Kajova – Senior Manager, Funding
+358 50 5767 707
Lari Toppinen – Analyst, Funding
+358 50 4079 300
Aaro Koski – Analyst, Funding
+358 45 138 7465