Amadeusz Juskowiak

Bank of england announces one billion stg tap

The Bank of Enlgand said it was creating and taking onto its own books a one stg tranche of the nine pct Exchequer stock due 2002

The issue is part paid with 20 stg pct payable on issue and the 76 stg pct balance due on April 27 First dealings will take place this Wednesday March 4

The initial reaction among dealers was to mark prices around 18 point easier The market had been untapped prior to this announcement