Network Rail eschews ECP for US funding

Network Rail this week decided against a return to the ECP market, having recently begun issuing in the US CP market after a lengthy hiatus.

  • 10 Dec 2010

The agency — which has not done a ECP issue for five years, according to Dealogic — has been funding through the US market, taking advantage of competitive pricing and a favourable swap from dollars into sterling, but found funding costs too high in the European market.

"We’ve been ...

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