Lancashire to issue UK MBA's maiden deal
Lancashire County Council looks set to become the first borrower to make use of the UK Municipal Bonds Agency, preparing a deal to hit the market in the next few weeks. A second bond from the MBA is set to follow in March or April.
GlobalCapital understands the bond will be a five year Sonia linked floater of £250m-£300m.
Lancashire's bond will not be covered by the MBA group guarantee.The UK MBA will follow up Lancashire's deal with a £250m 10 year fixed rate to be used as a shared pool of capital, operating under ...