Trowers & Hamlins has advised Hartlepool Borough Council on the deal.
The unlisted bonds, which are fully amortising, fixed rate and with a 40-year maturity, were placed with a single institutional investor by means of a note purchase agreement. The bonds priced significantly inside the PWLB certainty rate and included a 12-month deferral.
The proceeds will be used by Hartlepool to help fund local capital projects.
The Trowers team comprised Neil Waller (Picture), Scott Dorling, Lara Marsden, Natasha Kaulsay and Sarah Monaghan, who worked alongside the arranger and advisor to Hartlepool, TradeRisks Limited.
Law Firms: Trowers & Hamlins;
Clients: Hartlepool Borough Council;