Lancashire scores with first MBA bond

SterlingMoney_Adobe_575x375
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 HSBCBarclaysand 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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial