Municipality Finance Plc
Stock exchange release
29 May 2020 at 12 noon (EET)

Municipality Finance issues EUR 50 million notes under MTN programme

Municipality Finance Plc issues EUR 50 million notes on 3 June 2020. The maturity of the notes is 10 years and the maturity date is 3 June 2030. MuniFin has the right but no obligation to redeem the notes early on the call date 3 June 2021. The notes bear interest at fixed rate of 0.140 % per annum.

The notes are issued under MuniFin’s 40 billion programme for the issuance of debt instruments. The offering circular is available in English on the company’s website at www.munifin.fi/investor-relations.

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 3 June 2020.

DZ Bank acts as the Dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets
tel. +358 9 6803 5674

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.

Read more: www.munifin.fi

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Municipality Finance Plc
Stock exchange release
28 May 2020 at 3:00 pm (EET)

Municipality Finance issues EUR 15 million notes under MTN programme

Municipality Finance Plc issues EUR 15 million notes on 2 June 2020. The maturity of the notes is 10 years and the maturity date is 2 June 2030. MuniFin has the right but no obligation to redeem the notes early on the call date 2 June 2022. The notes bear interest at fixed rate of 0.21 % per annum.

The notes are issued under MuniFin’s 40 billion programme for the issuance of debt instruments. The offering circular is available in English on the company’s website at www.munifin.fi/investor-relations.

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 2 June 2020.

Commerzbank AG acts as the Dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets
tel. +358 9 6803 5674

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Lt.

Read more: www.munifin.fi

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Municipality Finance Plc
Stock exchange release
20 May 2020 at 1:00 pm (EET)

Municipality Finance issues SEK 200 million notes under MTN programme

Municipality Finance Plc issues SEK 200 million notes on 25 May 2020. The maturity of the notes is three years and the maturity date is 25 May 2023. The notes bear interest at a floating rate equal to 3-month Stibor plus 150 bps per annum.

The notes are issued under MuniFin’s 40 billion programme for the issuance of debt instruments. The offering circular is available in English on the company’s website at www.munifin.fi/investor-relations.

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 25 May 2020.

Nordea Bank Abp acts as the Dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets
tel. +358 9 6803 5674

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.

Read more: www.munifin.fi

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Municipality Finance Plc
Stock exchange release
19 May 2020 at 4:00 pm (EET)

Municipality Finance issues a SEK 200 million tap and a NOK 500 million tap under its MTN programme

On 22 May 2020 Municipality Finance Plc issues two new tranches to existing series of floating rate notes. The notes are issued under MuniFin’s 40 billion programme for the issuance of debt instruments. The offering circular is available in English on the company’s website at www.munifin.fi/investor-relations.

SEK 200 million tap to an existing series of floating rate notes

Municipality Finance Plc issues a new tranche in an amount of SEK 200 million to an existing series of floating rate notes originally issued on 31 March 2020. With the new tranche, the aggregate notional amount of the notes is SEK 1,200 million. The new tranche will become fungible with the existing notes in the series no earlier than 40 days after the issue date. The maturity date of the notes is 31 March 2022. The notes bear interest at a floating rate equal to 3-month Stibor plus 150 bps per annum.

MuniFin has applied for the new tranche to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 22 May 2020. The existing notes in the series are admitted to trading on the Helsinki Stock Exchange.

Nordea Bank Abp acts as the Dealer for the new tranche.

NOK 500 million tap to an existing series of floating rate notes

Municipality Finance Plc issues a new tranche in an amount of NOK 500 million to an existing series of floating rate notes originally issued on 11 January 2018. With the new tranche, the aggregate notional amount of the notes is NOK 3,850 million. The maturity date of the notes is 11 July 2023. The notes bear interest at a floating rate equal to 3-month Nibor plus 1.50% per annum.

MuniFin will apply for the new tranche to be admitted to trading on the Regulated Market of London Stock Exchange. The public trading is expected to commence on 22 May 2020. The existing notes in the series are admitted to trading on the London Stock Exchange.

SEB acts as the Dealer for the new tranche.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets
tel. +358 9 6803 5674

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.

Read more: www.munifin.fi

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Municipality Finance Plc
Stock exchange release
18 May 2020 at 1:00 p.m. (EET)

Municipality Finance issues RON 115 million notes under MTN programme

Municipality Finance Plc issues RON 115 million notes on 20 May 2020. The maturity of the notes is 1 year and the maturity date is 20 May 2021. The notes bear interest at fixed rate of 3.2% per annum.

The notes are issued under MuniFin’s 40 billion programme for the issuance of debt instruments. The offering circular is available in English on the company’s website at www.munifin.fi/investor-relations.

MuniFin has applied for the notes to be admitted to trading on the Helsinki Stock Exchange maintained by Nasdaq Helsinki. The public trading is expected to commence on 20 May 2020.

Societe Generale acts as the Dealer for the issue of the notes.

MUNICIPALITY FINANCE PLC

Further information:

Joakim Holmström
Executive Vice President, Capital Markets
tel. +358 9 6803 5674

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Lt.

Read more: www.munifin.fi

Important Information

The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into any such country or jurisdiction or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities or other financial instruments in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

This communication does not constitute an offer of securities for sale in the United States. The notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Municipality Finance Plc
Stock exchange release
7 April 2020 at 9:00 am (EET)

FIN-FSA removes the systemic risk buffer requirement set on Municipality Finance; other capital requirements remain unchanged

On 6 April 2020, the Finnish Financial Supervisory Authority (FIN-FSA) has decided to remove the systemic risk buffer requirement set on Municipality Finance (MuniFin). The buffer covered by common equity tier 1 capital (CET1) was previously 1.5%. The FIN-FSA did not change other capital requirements set on MuniFin. The change lowers MuniFin’s capital requirement by 1.0 percentage point, since the systemic risk buffer and MuniFin’s 0.5 percentage point O-SII buffer requirement are overlapping capital requirements. After the change, MuniFin’s minimum capital requirement including the Pillar II requirement set by supervisor is 10.5% for CET1 capital adequacy and 14.0% for the tier 1 and overall capital adequacy.

In general, MuniFin sees the easing of the systemic risk buffer requirements an appropriate reaction from the banking authorities to the effects of the corona pandemic. At the end of 2019, MuniFin’s CET1 capital adequacy was 83.1% and the tier 1 and overall capital adequacy were 107.9%. The company has clearly met all capital requirements previously set on it. In its capital and liquidity management the company has been prepared for sudden shocks in the economy and the society and is therefore able to meet its customer demand also in the current situation.  

The decision of the FIN-FSA enters into force immediately. Similarly, the FIN-FSA has updated capital requirements applicable to all significant credit institutions in Finland.  The aim of these updates is to mitigate the negative effects of the coronavirus pandemic on the stability of financial markets and on credit institutions’ ability to finance the economy.

MUNICIPALITY FINANCE PLC

Harri Luhtala
CFO
tel. +358 50 592 9454

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

Read more: www.munifin.fi

Municipality Finance Plc
Stock exchange release
25 March 2020 at 12:00 (EET)

Resolutions by the Annual General Meeting of Municipality Finance Plc held on 25 March 2020

The Annual General Meeting of Municipality Finance Plc held on 25 March 2020 adopted the company’s financial statements and discharged the members of the Board of Directors, the CEO, and the Deputy to the CEO from liability for the financial year 2019.

Use of profit shown on the balance sheet

The Annual General Meeting decided that a dividend of EUR 0.16 per share, totalling EUR 6,250,207.68, shall be paid out, and that the remainder of distributable funds of EUR 129,117,955.25 be retained in equity. Dividends will be paid on 6 April 2020 to each shareholder recorded in the company’s list of shareholders on 1 April 2020.

Remuneration and composition of the Board of Directors

The Annual General Meeting decided the following remuneration for the members of the Board of Directors for the term from the closing of the 2020 AGM, to the closing of the next AGM (the ”Term 2020–2021”): annual remuneration of a Board member EUR 20,000; annual remuneration of the Vice Chairperson of the Board EUR 23,000; annual remuneration of the Chairperson of the Risk or Audit Committee EUR 25,000; annual remuneration of the Chairperson of the Board EUR 35,000; to the members, a fee of EUR 500 per Board and committee meeting attended; and to the chairpersons, EUR 800 per meeting attended. The Annual General Meeting also decided that such fees are also paid per each meeting required by authorities. The remuneration corresponds to the remuneration for the term 2019–2020, except for the Chairmen of two Committees, whose annual fixed remuneration was raised to EUR 25,000. 

The Annual General Meeting decided that eight members will be elected to the Board of Directors for the term 2020–2021 and that the following current members will be re-elected: Ms. Maaria Eriksson, Mr. Markku Koponen, Mr. Kari Laukkanen, Ms. Vivi Marttila, Ms. Tuula Saxholm and Ms. Helena Walldén. The Annual General Meeting confirmed the election of Mr. Denis Strandell and Mr. Kimmo Viertola as new members of the Board of Directors for the term 2020–2021.

The CEO’s review

Esa Kallio, the President and CEO of Municipality Finance, noted in his speech that the Company’s capacity remains at a comfortable level despite the shock for society caused by the coronavirus (COVID-19). The coronavirus epidemic puts the customers of Municipality Finance under a lot of pressure. However, Municipality Finance is able to ensure the availability of funding in accordance with its purpose.

Election and remuneration of the Auditor

KPMG Oy Ab was elected as the company’s auditor with Tiia Kataja, Authorized Public Accountant, as the principal auditor. The auditor’s fees will be paid against the invoices approved by the company.

Constitutive Meeting of the Board of Directors

At its constitutive meeting, the Board of Directors appointed Helena Walldén as the Chairperson and Tuula Saxholm as the Vice Chairperson of the Board. The following persons were appointed to the Remuneration Committee: Helena Walldén as the Chairperson, and Markku Koponen, Tuula Saxholm and Kimmo Viertola as members. The following persons were appointed to the Audit Committee: Markku Koponen as the Chairperson, and Kari Laukkanen and Vivi Marttila as members. The following persons were appointed to the Risk Committee: Kari Laukkanen as the Chairperson, and Maaria Eriksson and Denis Strandell as members.

Additional information on the company’s operations in 2019 is available in the company’s Annual Report, which can be downloaded in PDF format from the company website at www.munifin.fi.

MUNICIPALITY FINANCE PLC
Esa Kallio
President and CEO
tel. +358 50 337 7953

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Lt.

Read more: www.munifin.fi

Municipality Finance Plc
Stock exchange release
4 March 2020 at 2 pm (EET)

Municipality Finance’s Annual Report for 2019 published

Municipality Finance Plc’s Annual Report, Corporate Governance Statement, and Remuneration Report for the year 2019 have been published in English and in Finnish on the company’s website at www.munifin.fi.

Municipality Finance has also published Pillar 3 Disclosure document in accordance with Regulation (EU) No 575/2013 and Directive 2013/36/EU. The document is available in English on the company’s website.

MUNICIPALITY FINANCE PLC

Esa Kallio
President and CEO
tel. +358 50 337 7953

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Lt

Read more: www.munifin.fi

Attachment

• MuniFin_Annual_Report_2019_SECURE

Municipality Finance Plc
Stock Exchange Release
4 March 2020 at 1.30 pm (EET)

Proposals to the Annual General Meeting of Municipality Finance Plc

The Board of Directors (hereinafter the Board) and the Shareholders’ Nomination Committee have made the following proposals to the Annual General Meeting (the AGM) convening on 25 March 2020 at 10:00 (EET):

Use of profit shown on the balance sheet

Municipality Finance Plc (MuniFin) has distributable funds of EUR 135,368,162.93 of which the profit for the financial year totaled EUR 7,750,348.23. The Board proposes to the AGM that a dividend of EUR 0.16 per share, totaling EUR 6,250,207.68, shall be paid out and that the remainder of distributable funds of EUR 129,117,955.25 be retained in equity.

In recent years, the company has been consistently preparing for the anticipated entering into force of banking regulation related capital ratio requirements, the leverage ratio requirement in particular. The Board estimates that distribution of dividends will not place the fulfilment of the capital requirements or the company’s liquidity in jeopardy. MuniFin clearly fulfils all the prudential requirements set to it. Dividends will be paid to shareholders who are recorded in the company’s list of shareholders on 1 April 2020. The Board proposes that the dividends be paid on 6 April 2020.

Remuneration and composition of the Board of Directors

The Shareholders’ Nomination Committee proposes to the AGM the following remuneration of the Board of Directors for the term from the closing of the 2020 AGM, to the closing of the next AGM (the Term 2020–2021): annual fixed remuneration of a Board member EUR 20,000; annual fixed remuneration of the Vice Chairperson of the Board EUR 23,000; annual fixed remuneration of the Chairperson of the Risk or Audit Committee EUR 25,000; annual fixed remuneration of the Chairperson of the Board EUR 35,000; to the members, a fee of EUR 500 per Board and committee meeting attended; and to the chairpersons, EUR 800 per meeting attended. The Shareholders’ Nomination Committee also proposes to the AGM that such fees are also paid per each meeting required by authorities. The remuneration proposal means an increase of EUR 5,000 to the present remuneration of the Chairpersons of the Risk and Audit Committee. Otherwise, the proposed remuneration corresponds to the remuneration for the term 2019–2020.

The Shareholders’ Nomination Committee proposes to the AGM that eight members will be elected to the Board of Directors for the Term 2020–2021 and that the following current members will be re-elected: Ms. Maaria Eriksson, Mr. Markku Koponen, Mr. Kari Laukkanen, Ms. Vivi Marttila, Ms. Tuula Saxholm and Ms. Helena Walldén. Further, the Shareholders’ Nomination Committee proposes the election of Mr. Denis Strandell and Mr. Kimmo Viertola as new members of the Board for the Term 2020–2021.

Denis Strandell is the Mayor of the city of Hanko with a long prior experience from various positions in the financial sector. He has comprehensive expertise and experience in market risks and investment services in particular. Kimmo Viertola is the Director General of the Government’s Ownership Steering Department. Viertola has a long experience from operations in the financial sector, including his work at Suomen Teollisuussijoitus Oy and in the banking sector.

The Shareholders’ Nomination Committee proposes to the Board of Directors to be elected by the AGM to appoint Helena Walldén as the Chairperson and Tuula Saxholm as the Vice Chairperson.

Election and remuneration of the Auditor

The Board of Directors proposes to the AGM to re-elect KPMG Oy Ab as the company’s auditor for the term 2020–2021. KPMG Oy Ab has announced that in the event they are elected as the company’s auditor, Ms. Tiia Kataja, APA, will act as the principal auditor. Tiia Kataja has acted as the principal auditor during the previous term as well. The Board proposes to the AGM that the auditor’s fees will be paid against reasonable invoices.

The invitation to the AGM, including relevant appendices, is available on MuniFin’s website in Finnish.

MUNICIPALITY FINANCE PLC

Esa Kallio
President and CEO
tel. +358 50 337 7953

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Lt.

Read more: www.munifin.fi

Municipality Finance Plc
Stock Exchange Release
21 February 2020 at 1.15 am (EET)

Change in the Board of Directors of MuniFin

Raija-Leena Hankonen, member of the Board of Directors of Municipality Finance Plc (MuniFin), has as of today resigned from the Board of Directors, including its Committees, as she is proposed to be elected to the Board of Directors of Danske Bank A/S. According to MuniFin’s Articles of Association, a member of the Board of Directors may not belong to the management of another credit institution.

”Board membership in MuniFin has been an extremely interesting position in which I have been able to participate in the management of the third largest credit institution in Finland, seeing its importance for responsible finance of public sector. I am happy to have had this opportunity to help build MuniFin’s success from my part during the past year,” says Raija-Leena Hankonen.

“Despite having served on the MuniFin’s Board of Directors for a shorter period than planned, Raija-Leena Hankonen’s expertise and extensive experience in external audit and financial sector operations have been a great benefit for MuniFin. I thank her for her contribution and wish her every success in her future endeavors,” says Helena Walldén, Chair of MuniFin’s Board of Directors.

MUNICIPALITY FINANCE PLC

Mari Tyster
Executive Vice President, Legal and Governance
Tel. +358 50 3686860

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the company’s balance sheet totals nearly EUR 39 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin’s mission is to build a better future in line with the principles of responsibility and in cooperation with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is the most active Finnish bond issuer in international capital markets and the first Finnish green bond issuer.  The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.

Read more: www.munifin.fi