NO-HEADLINE
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Stagecoach, the Perth-based bus operator, yesterday claimed a first in completing the securitisation of pounds 545m of debt associated with its controversial takeover of the Porterbrook rail leasing company. Although the group will keep the debts on its balance sheet, there will be no recourse to Stagecoach, which will bear an average fixed cost of around 7.4 per cent on the funds raised. The main securitisation vehicle has issued pounds 443m of triple-A rated bonds backed by Government-guaranteed leasing revenues payable by Porterbrook's 16 train operating company customers. Earlier this year, Nomura used securitised debt to buy Angel Train Contracts, a rival rail leasing group.
Investment column, page 26
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments