The Municipal Bonds Agency today issued its inaugural bond at a rate of just over 1% - significantly beating the cost of borrowing from the Public Works Loan Board.
Plans for local government bond issuances could be “supercharged” if the Treasury provides backing to municipal authorities as part of efforts to boost investment, the leader of England’s largest...
Nearly 20 local authorities are set to approve the UK Municipal Bonds Agency’s regulations by the end of July, clearing the way for its landmark first issue to take place in the autumn.
Cambridgeshire County Council has become the first local authority to approve the operating framework for the UK Municipal Bond Agency, meaning it could form part of the first bond issue.
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
