Northern Rock expected to get U.K. bond backing: plan would let bank repay taxpayer debt, make it easier to sell
Article Abstract:
A plan by the British government regarding Northern Rock PLC is expected to facilitate both the sale of the troubled mortgage lender and boost its ability to reimburse some $49 bil of bailout funding provided by the government. The anticipated plan involves allowing Northern Rock to utilize the company's mortgage book to back bond payments that will also be guaranteed by the government, improving their appeal to international investors.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
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U.K. seeks solution for Northern Rock: options include nationalization; a sale may be hard
Article Abstract:
The UK government has funnelled approximately $49 bil into Northern Rock PLC since the mortgage lender became a casualty of the current credit crisis. Hedge funds of UK's RAB Capital PLC and Monaco's SRM Advisers, which own over 18% of shares in Northern Rock, have extended four proposals that would increase shareholder power over the lender's future.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
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Royal Bank to buy First Active
Article Abstract:
Royal Bank of Scotland PLC announced that it is acquiring First Active PLC in a deal valued at 887 million euros. The deal will give Royal Bank a major share of Ireland's mortgage and savings market.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2003
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