Assured Guaranty Wraps £210 Million Bond Issue for Glasgow City Council

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Feb 21, 2023

Assured Guaranty UK Limited (AGUK)* announced that it has guaranteed principal and interest payments on a £210 million private placement issued by City Property Glasgow (Operations SL3) Ltd, a newly formed special purpose vehicle (SPV) owned by Glasgow City Council to issue the bonds. This issuance has financed a long-term sale and leaseback transaction with Glasgow City Council on certain properties owned by the council throughout the city. This is Glasgow City Council’s second sale and leaseback transaction guaranteed by AGUK, after its £195 million private placement issuance in 2019.