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Article: Channel Tunnel link launches bond to take it to St Pancras
- Article from:
- The Independent (London, England)
- Article date:
- January 13, 2002
- Author:
CopyrightCopyright 2002 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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London & Continental Railways, the consortium building the Channel
Tunnel Rail Link, is to launch a pounds 1.1bn bond to fund the second
phase of a project to link up London.
Because of the strategic importance of the link, the bond will be
guaranteed by the Government and will receive a top "AAA" credit
rating. LCR has appointed UBS Warburg and Barclays Capital to handle
the sale of the bond, which will mature 50 years after issue.
Mark Bayley, group treasurer of LCR, said: "The bond will be
launched in the first quarter of the year. The project will require
no further funding."
When the project is completed in 2007, Eurostar journeys from
London's St Pancras to Paris will take two hours ...