MuniFin successfully priced its inaugural NOK 2 billion green bond on September 19th, drawing strong investor demand despite the ample supply in the SSA NOK market.
MuniFin’s inaugural NOK 2 billion green bond was priced on 19th of September. The transaction marks MuniFin’s first green bond in the Norwegian market and its second ESG-labeled NOK trade of the year.
The high-quality investor base showed significant interest from Norwegian domestic bank treasuries. The books built very quickly and were closed at a spread of +20 bps over 3-month Nibor.
“Congratulations to MuniFin on this successful inaugural green outing in the Norwegian market. The transaction is a true testament of MuniFin’s market access and an excellent addition to their currency pallet for green bonds. SEB is delighted to have been a part of MuniFins first-ever green bond in Norwegian Kroner”, comments Axel Zetterblom, SSA Origination at SEB.
“We are excited to see our green customer finance grow in line with our Sustainability Agenda, allowing us to expand our green issuances into a new currency – the Norwegian krone market. We extent our heartfelt thanks to our investors for their continued support”, says Lari Toppinen, Senior Analyst at MuniFin.
Transaction details
| Issuer | Municipality Finance (KUNTA, MuniFin) |
| Issue rating | Aa1/AA+ |
| Status | Senior unsecured |
| Reoffer price | 100% |
| Reoffer spread | 3mN + 20bps |
| Issue size | NOK 2bn |
| Settlement | 26 September 2024 |
| Maturity | 26 September 2029 |
| Coupon | 3.666% Fixed, Annual, Act/Act ICMA Unadjusted Following |
| Listing | Nasdaq Helsinki |
| ISIN | XS2908585933 |
| Lead manager | Skandinaviska Enskilda Banken AB |