UK MBA pulls bond for Warrington amid uncertainty following PWLB rate cut

sterling_adobestock_575x375
By Burhan Khadbai
01 Dec 2020

The UK Municipal Bonds Agency on Tuesday withdrew a planned bond sale for Warrington Borough Council as a result of the Public Works Loan Board’s decision last week to cut its lending rate by 100bp. Warrington will have to reconsider what is its best funding option.

“It was a joint decision,” Christian Wall, director at PFM, the managed service provider to the UK MBA, told GlobalCapital. “The UK MBA works on behalf of councils, so any decision of whether to issue a bond or not to issue a bond is not made without the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial