Core Points - Municipality Finance Plc has issued a EUR 1 billion green benchmark with a fixed interest rate of 2.625% per annum, maturing on 14 June 2032 [1] - The benchmark is part of MuniFin's EUR 50 billion debt issuance program and is expected to commence public trading on the Helsinki Stock Exchange on 10 June 2025 [2] - The joint lead managers for this benchmark issue include Danske Bank A/S, DZ BANK AG, J.P. Morgan SE, and Skandinaviska Enskilda Banken AB [3] Company Overview - Municipality Finance Plc is one of Finland's largest credit institutions, with a balance sheet exceeding EUR 53 billion, owned by Finnish municipalities, the public sector pension fund Keva, and the State of Finland [4] - The company focuses on environmentally and socially responsible investments, providing loans for projects such as public transportation, sustainable buildings, and healthcare facilities [5] - MuniFin operates in a global business environment and is recognized as the first Finnish issuer of green and social bonds, with funding guaranteed by the Municipal Guarantee Board [6]

Core Insights - Nextensa has initiated 2025 with significant momentum, completing three strategic transactions that align with its sustainable investment strategy and position the company for growth and enhanced market presence [1] Strategic Transactions - The sale of the Knauf Shopping Centers on February 13, 2025, for € 165.75 million marks a pivotal shift in the portfolio towards assets with higher growth potential, reinforcing financial strength and enabling targeted investments [2] - The acquisition of Proximus Towers in Brussels for € 62.5 million enhances Nextensa's portfolio of high-quality office buildings, aligning with its long-term vision of investing in premium locations [4] - Proximus' decision to establish its headquarters at Tour & Taxis confirms the site's strategic importance, ensuring long-term rental income with full pre-letting of the office section [3] Financial Performance - Like-for-like rental income increased by 9% in Q1 2025, driven by strong performance at the Tour & Taxis site and contributions from major renovations, although nominal rental income decreased by 10.2% compared to Q1 2024 due to asset disposals [5] - The net result for the group share reached € 7.8 million, or € 0.77 per share, an increase from € 7.0 million or € 0.70 per share in Q1 2024 [8] Development Projects - The foundation stone for the office building "The Stairs" at Cloche d'Or was laid on March 18, with completion expected by the end of Q1 2026, while only 17 apartments remain unsold at the site despite a slowdown in residential sales [6] - At Tour & Taxis, 322 out of 346 apartments in Park Lane Phase II were sold by the end of Q1 2025, averaging 2 apartments sold per week [7] Financial Management - The average cost of financing decreased from 2.86% to 2.79%, aided by an interest rate hedging strategy and reduced financial debt [9] - The sale of the Knauf shopping centers lowered the net loan-to-value (LTV) ratio below 40%, strengthening the balance sheet for future development projects [9] Company Overview - Nextensa operates as a mixed-use real estate investor and developer, with a portfolio valued at approximately € 1.1 billion as of March 31, 2025, distributed across Luxembourg (43%), Belgium (42%), and Austria (15%) [10][11]

Group 1 - The Trade Desk (TTD) is viewed as a generational "buy" opportunity despite recent investor pessimism due to a Q4 miss and short-term execution missteps [1] - Amrita, who runs a family office fund, focuses on investing in sustainable, growth-driven companies that aim to maximize shareholder equity [1] - The family fund's investment strategy is complemented by Amrita's award-winning newsletter, The Pragmatic Optimist, which emphasizes portfolio strategy, valuation, and macroeconomics [1] Group 2 - Amrita has a background in high-growth supply-chain start-ups and has worked with venture capital firms to enhance user acquisition [1] - The newsletter has gained recognition as a top finance newsletter and aims to simplify financial literacy and complex macroeconomic concepts for a broader audience [1]

Core Viewpoint - Municipality Finance Plc has issued a new tranche of GBP 50 million under its Medium Term Note (MTN) programme, increasing the total benchmark amount to GBP 550 million, with a fixed interest rate of 4.375% per annum and a maturity date of 2 October 2028 [1][2]. Group 1 - The new tranche is part of MuniFin's EUR 50 billion programme for issuing debt instruments, with relevant documents available on the company's website [2]. - The new tranche is set to be admitted for trading on the Helsinki Stock Exchange, with public trading expected to commence on 6 May 2025 [3]. - UBS Europe SE is acting as the Dealer for the issuance of the new tranche [3]. Group 2 - MuniFin is one of Finland's largest credit institutions, with a balance sheet exceeding EUR 53 billion, and its owners include Finnish municipalities, the public sector pension fund Keva, and the State of Finland [3]. - The company focuses on environmentally and socially responsible investments, lending to municipalities and related entities for projects such as public transportation, sustainable buildings, and healthcare facilities [4]. - MuniFin operates in a global business environment and is recognized as the first Finnish issuer of green and social bonds, with funding guaranteed by the Municipal Guarantee Board [5].

Core Viewpoint - Municipality Finance Plc (MuniFin) has issued a new tranche of EUR 50 million under its existing benchmark, increasing the total amount to EUR 1.150 billion, with a fixed interest rate of 2.500% per annum and a maturity date of 29 August 2029 [1][2]. Group 1: Financial Details - The new tranche is part of MuniFin's EUR 50 billion debt issuance program [2]. - The total nominal amount of the benchmark after the new tranche is EUR 1.150 billion [1]. - The maturity date for the benchmark is set for 29 August 2029 [1]. Group 2: Trading and Market Information - The new tranche is expected to commence public trading on the Helsinki Stock Exchange on 5 May 2025 [3]. - NatWest Markets N.V is acting as the Dealer for the issuance of the new tranche [3]. Group 3: Company Overview - MuniFin is one of Finland's largest credit institutions, with a balance sheet exceeding EUR 53 billion [3]. - The company is owned by Finnish municipalities, the public sector pension fund Keva, and the State of Finland [3]. - MuniFin focuses on environmentally and socially responsible investments, including public transportation, sustainable buildings, and healthcare facilities [4]. Group 4: Operational Context - MuniFin operates in a global business environment while serving domestic customers, including municipalities and social housing entities [5]. - The company is recognized as the first Finnish issuer of green and social bonds, with funding guaranteed by the Municipal Guarantee Board [5].

Group 1 - The article discusses the recent turmoil surrounding Tesla (NASDAQ: TSLA), particularly due to anti-Musk protests linked to the CEO's involvement with DOGE, which has negatively impacted investor sentiment [1] - Amrita, who runs a family office fund in Vancouver, focuses on investing in sustainable, growth-driven companies that aim to maximize shareholder equity [1] - The fund's strategy is informed by Amrita's previous experience in high-growth supply-chain start-ups and her work with venture capital firms, where she successfully maximized returns for clients during the pandemic [1] Group 2 - Amrita's newsletter, The Pragmatic Optimist, has gained recognition as a top finance newsletter, emphasizing portfolio strategy, valuation, and macroeconomics in an accessible manner [1] - The cornerstone of Amrita's work is to democratize financial literacy and simplify complex financial concepts for a broader audience [1]