Network Rail to depart from markets in 2014/2015

By Craig McGlashan
24 Apr 2014

Network Rail is set to leave the capital markets after the UK government decided that it could guarantee better value taxpayer money by lending directly to the agency. But the funding team’s jobs appear to be safe and there has been little impact on Gilts following the announcement.

Opinion was mixed on whether the move away from the markets — where Network Rail sells syndicated and privately placed notes — was sensible.

“When you have a small structure like Network Rail then it doesn’t make sense to pay more than the sovereign,” said a head of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial