Lancashire scores with first MBA bond

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By Lewis McLellan
05 Mar 2020

Lancashire County Council raised £350m ($453.5m) of five year cash on Thursday through the UK Municipal Bonds Agency platform. It is the first local authority to do so since the MBA was set up.

Lancashire mandated HSBC, Barclaysand Bank of Americato run the books for a five year benchmark, which is expected to have a size of £250m-£350m. The leads offered guidance of 85bp area over Sonia but, with orders at over £690m, they were able to set the spread at 80bp.

Dominic ...

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