City of London launches US PP notes

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By Silas Brown
02 Jul 2019

The City of London Corporation, via its endowment fund The City’s Cash, has held its first roadshow for its inaugural US private placement notes. The funds will be partly used to finance the consolidation of the Billingsgate, Smithfield and Spitalfields wholesale food markets at a new site in Dagenham, Essex.

Lloyds Bank and Santander were mandated to raise the private debt, according to several market sources. They held a roadshow for the borrower on Friday 28 June, when they told investors the City of London was looking for maturities of between 25 to 50 years. The amount the ...

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