HC Deb 05 February 1996 vol 271 c11W
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. [14018]

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.