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MuniFin strikes again to the Swiss bond market

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

IssuerMunicipality Finance Plc
Issuer RatingsS&P: AA+ (stable) / Moody’s: Aa1 (stable)
AmountCHF 100’000’000
Tenor3 years
Coupon1.6000 % Fixed, Annual, (30/360)
Reoffer price100.015 %
Trade date24.7.2023
Payment date4.8.2023
Maturity date4.8.2026
Lead ManagerZürcher Kantonalbank
ListingSIX Swiss Exchange

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