News Release
Gilt-Edged Conversion: From 13½% Treasury Stock 2004-2008 Into to 8½% Treasury Stock 2005
17 September 1996
The provisional result of the above conversion offer is that, of the £1,250 million of 13½% Treasury Stock 2004-2008 outstanding prior to the offer, acceptances have been received to convert about £1,156 million (92.5%) into 8½% Treasury Stock 2005.
This is a provisional result. The final result will be published as soon as possible.
Details of the two stocks are as follows:
|
|
Amount outstanding prior to the conversion offer |
Approximate amount (in £ mns) outstanding after conversion |
| 13½% Treasury Stock 2004-2008 | £1,250 million | £94 million |
| 8½% Treasury Stock 2005 | £8,900 million | £10,375 million |
Notes to Editors
This Notice gives details of the result of the gilt-edged conversion offer announced on 27 August 1996.
In line with its normal practice of standing ready to bid a price for certain stocks where the outstanding rump is too small to trade in the normal way, the Bank will bid a price, as determined by itself in line with its best judgement of current market prices, for any amount of 13½% Treasury Stock 2004-2008 offered to it by the Gilt-Edged Market Makers.
