BRITISH GAS REPAYS 750 MLN STG DEBT
British Gas Plc <BRGS.L> said it repaid
750 mln stg debt to the government, the first tranche of 2.5
billion stg unsecured debentures issued as part of the process
of privatisation last year.
    The repayment of the funds for the year to end-March was in
line with details given in the prospectus last year.
    Before the sale, the government added the debt onto the
British Gas balance sheet. In the year to end-March 1988 BGC
will pay back a further 250 mln stg, followed by 400 mln in
both 1988/89 and 1989/90 and the remainder in equal instalments
of 350 mln over the next two years.
 REUTER
