
Bedford Council Moves to Restructure Debt with £5m Loan
A local council has taken out a £5 million loan to help manage its finances. The loan, from the Public Works Loan Board, was secured on April 16 to re-profile short-term debt over five years and reduce interest rate risks. A council spokesperson said borrowing levels are regularly reviewed and reported. The PWLB, run by the UK Debt Management Office, provides loans to public bodies for capital projects.