§ Mr. Matthew Banks
To ask the Chancellor of the Exchequer if he will make a statement on the outcome of the sale of part of the Government's holding of privatized companies' debt. 
§ Mr. Jack
The following bonds were offered for sale.
Issuer Face value £ million Coupon (Per cent.) Maturity National Grid 150 12.895 March 2001 Norweb 76 12.365 September 2008 Norweb 77 12.661 September 1999 SWEB 80 12.365 September 2008 Northern Electric 55 12.661 September 1999
I am pleased to report that the sale was successfully completed on 2 February. Three of the issuers, National Grid, Norweb and SWEB have purchased their bonds for early redemption. BZW has sold the Northern Electric bond on behalf of the Treasury.
Payment will be made to the Exchequer on 9 February. The net proceeds from the sale will total £538 million.