Private school issues private placement of debt to try to increase amount of fee support it can offer pupils from less privileged backgrounds
Eton college has issued its first private placement of debt,borrowing £45m to abet needy pupils with fees and build new facilities.
Eton, which has no other debt, and issued the private placement to British institutional investor Friends Life,said Bursar Janet Walker. The interest rate was fixed at 3.63% for 45 years, said the school in a statement.
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Source: theguardian.com