Rescue Will Land Rbs with [Pounds]600m Annual Interest Bill
Evening Standard - London › October 13, 2008
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Summary
ROYAL Bank of Scotland will have to pay the Treasury [pounds]600 million a year just to service its [pounds]5 billion of preference shares it emerged today.
The Government has demanded that the three banks it is rescuing pay a massive 12% coupon on their preference shares. So for a merged Lloyds HBOS the annual interest bill will be [pounds]480 million.See the full content of this document
Extract
Rescue Will Land Rbs with [Pounds]600m Annual Interest Bill
Preference shares rank above ordinary shares bot...
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