-UK GOVERNMENT: Government announces next stage of financing of government guaranteed debt for CTRL.

0 Comments | M2 Presswire, November, 1998

M2 PRESSWIRE-11 November 1998-UK GOVERNMENT: Government announces next stage of financing of government guaranteed debt for CTRL (C)1994-98 M2 COMMUNICATIONS LTD RDATE:101198 The DETR will this week be inviting, on behalf of London & Continental Railways Limited (LCR), up to nine leading international banks to submit proposals to arrange and manage Eurosterling bond issues to finance Government guaranteed debt for the Channel Tunnel Rail Link (CTRL).

This decision follows an evaluation of the feedback received from the markets. The bonds will be issued by a subsidiary of LCR and will be unconditionally and irrevocably guaranteed by HM Government. The issue of Government Guaranteed Bonds (GGBs) is governed by the timetable for the CTRL project. To allow time to...

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