By Cristal Cody
Tupelo, Miss., June 20 – Municipality Finance plc (Aa1/AA+) priced a $250 million add-on to its floating-rate notes due Feb. 7, 2020 on Tuesday on top of talk with a yield of Libor plus 4 basis points, according to a market source.
Barclays, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. were the lead managers.
Municipality Finance originally sold $500 million of the floaters on Jan. 11 with a coupon of Libor plus 17 bps. The total outstanding now is $750 million.
The Helsinki, Finland-based credit institution provides funding for the public sector in Finland.
Issuer: | Municipality Finance plc
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Amount: | $250 million reopening
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Description: | Floating-rate notes
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Maturity: | Feb. 7, 2020
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Bookrunners: | Barclays, RBC Capital Markets, LLC and Scotia Capital (USA) Inc.
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Coupon: | Libor plus 17 bps
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Yield: | Libor plus 4 bps
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Trade date: | June 20
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Ratings: | Moody's: Aa1
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| S&P: AA+
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Price talk: | Libor plus 4 bps area
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Total outstanding: | $750 million, including $500 million priced on Jan. 11 at Libor plus 17 bps
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