The UK Municipal Bonds Agency (UKMBA) has issued a plea to councils to take part in its first bond issue.
In a letter reported in the Municipal Journal, UKMBA chair Sir Merrick Cockell, said councils should stop “waiting to see what happens” and use the UKMBA.
“If we can capture just a segment of this borrowing we can make a success of a first issue and gear up the bonds agency as a mainstream vehicle for the future,” he wrote.
An article in the Financial Times said that “questions are mounting about the agency’s future as it struggles to issue its first bond on behalf of local authorities”.
