Northern Rock - Shareholders Are Not Seduced By Virgin
The coming up of Northern Rock, the beleaguered UK bank all the more remains uncertain after the deadline of 4 Feb 2008 for bids from biased parties. The UK polity is seeking to replace the estimated GBP25 billion of loans into bonds which testament be sold in the accessible market. In circuit to cause these bonds attractive, the management will warrantly them. It has momentarily emerged that in appendix to requiring a price for the guarantee, which could be as still as GBP400 million, the UK control is insisting that the guarantee is regional to 3 years. This method that the bonds will sole annex a 3 year life, and at the edge of that date they will necessitate to be replaced by alternative funding. ...
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