HC Deb 29 April 1994 vol 242 cc372-3W
Mr. Burns

To ask the Chancellor of the Exchequer what plans he has for the disposal of some or all of the Treasury's holding of debt in privatised companies.

Mr. Dorrell

The Treasury has agreed to the repurchase of debt issued to Her Majesty's Government by Eastern Electricity plc. The debt is:

£ million Per cent.
59 112.661
59 212.365
1 Due September 1999.
2 Due September 2008.

Eastern Electricity plc will today pay Her Majesty's Treasury £144.827 million to repurchase these bonds.

As announced on 1 March, the Treasury is planning to dispose in 1994–95 of part of its holding of debt in BT plc and certain of the privatised electricity companies, as part of its strategy for meeting its published proceeds target of £5.5 billion. The Treasury is considering its strategy for this debt disposal.

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