Plans by the Local Government Association to create a municipal bond agency for UK councils is ‘credit positive’ and could improve financial oversight of town halls, ratings agency Moody...
The Local Government Association has announced the creation of a new company to issue municipal bonds, as the long-running plan for councils to borrow from the capital market nears fruition.
The first issue of municipal bond is set to go ahead next spring after the Local Government Association confirmed it had raised more than seven times the necessary funding to launch the agency.
Government changes to the interest rate local authorities pay to borrow from the Public Works Loan Board have become a barrier to councils making decisions to invest in economic infrastructure, the...
Birmingham City Council is set to provide £200,000 in start-up costs for the municipal bonds agency planned by the Local Government Association, it has announced today.
Councils will have to pass a credit test and cross-guarantee loans made to other authorities if they want to access the Local Government Association’s planned municipal bonds agency, the lead...
Plans to create a municipal bond agency could save councils nearly £1.5bn in lower borrowing costs, according to the latest analysis by the Local Government Association
Plans to create a municipal bond agency could require closer monitoring of local government by the Treasury to replicate the triple-A ratings received by similar agencies elsewhere, analysts at Moody...
A Municipal Bond Agency would free up local authorities to invest in housing and other services, without adding to government debt. But some key reforms to the borrowing rules will be needed
Councils have been warned they will need to set out details of their long-term borrowing plans if a proposed municipal bonds agency is to successfully provide town halls with cheaper finance.
Councils are backing plans to create a Scandinavian-style collective municipal bond agency, which would offer local government cheaper borrowing to fund projects such as new housing and road...
Plans to establish a municipal bonds agency for local government could provide cheaper borrowing for councils than the Public Works Loan Board, an international expert has told Public Finance.
Councils in the North of England should issue a collective municipal bond to raise funds for capital projects, the Institute for Public Policy Research said today.
The Local Government Association has urged the Treasury to back plans for a municipal bonds agency in the Budget, warning that councils could miss out on investment from pension funds if ministers...
A group of councils are considering the first major local government bond issue since the 1980s as part of proposals to back a range of green energy projects.
Councils will have to give the government details of their borrowing plans to qualify for the lower Public Works Loan Board interest rates announced in the Budget, it has been revealed.
The interest rate cut for some local authority borrowing could scupper councils’ plans to issue bonds to raise funds for infrastructure projects, Public Finance has learned.
English councils are considering issuing small local bonds to raise funds for essential capital projects, according to the New Local Government Network.
Local authorities have been warned that they will need to guarantee each others’ debts if a new local authority bond agency is to get the top credit rating needed to make the plans viable.
