HC Deb 03 July 1996 vol 280 cc453-4W
Mr. Matthew Banks

To ask the Chancellor of the Exchequer if he will make a statement on the outcome of the sale of the Government's holding of debt in Railtrack. [35518]

Mr. Jack

The following bonds were offered for sale:

  • £134,837,000 9.125 per cent. bonds due 2006;
  • £100,163,000 9.625 per cent. bonds due 2016.

I am pleased to report that the sale was successfully completed on 1 July. Payment will be made to HM Treasury on 9 July. The proceeds from the sale, net of commissions, will total £246.1 million.