After six years of false starts and delays, the UK MUNICIPAL BONDS AGENCY finally made its debut on Thursday, raising £350m on behalf of Lancashire County Council in a five-year deal that found broad appeal from a wide variety of investors. But it is unlikely to provide a blueprint for future deals from the agency, which was set up in 2014 as a vehicle for councils - most of which tend to borrow in small amounts -to come together to sell bonds in benchmark size through a system of cross guarantees.
展开▼
