Financial Services And Consultants, Stock Investment Advice - Home Spacer Investor Insight Spacer Devere Login
Home
Investor Insight
deVere Login
 
 
PIC logo
                 
 
           
 
     
 
PIC
 

P.I.C. - News

Skip Navigation Links
 
         

Home >  Label  >  Label
 
   

11 Jan, 2008


Published: 08:53 Friday 11 January 2008
By: Charlie Parker, Investment Editor

As Northern Rock's suitors struggle to secure final agreement on funding for the collapsed Bank the Government's adviser Goldman Sachs is considering a bond issue, reports the FT.

It is believed that Goldman's is reporting back to the Chancellor Alistair Darling on the different financing options available as early as this week. The options have been widely leaked.

The moves could come alongside the sale it Northern Rock's Lifetime Mortgage book to JP Morgan for £2.25 billion announced this morning.

The bond option has been touted in today's papers but previous reports have suggested that the Government may turn to sovereign wealth funds, possibly from the Arab states or the Far East, in order to secure finance.

Sovereign funds may relish the opportunity to gain a foothold in the UK banking market though it is understood Darling has only agreed to consider the funds 'in principle.'

The prospect of a bond issue appears to have been well received by the market. While the FTSE 100 has opened the day down Northern Rock (NRK) shares are up 4.11% to 89p

       
Contact Us
Valid XHTML 1.0 Transitional