UK MBA prints £250m of ultra-long cash for Lancashire

By Lewis McLellan
20 Aug 2020

The UK Municipal Bonds Agency has enjoyed a successful sophomore effort in the bond market, printing £250m of 40 year paper for Lancashire County Council.

BarclaysBank of America and HSBC ran the books, setting initial price thoughts at 110bp area over the January 2060 Gilt. With orders approaching £500m, the leads revised the spread for the no-grow £250m deal to a range of 100bp-105bp over. The final book was over £500m. 

“We ...

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