Rock repays Bank debt with JPMorgan sale

Northern Rock, the beleaguered British mortgage lender, is to pay back some of its Bank of England debt through the sale of a mortgage portfolio worth £2.2 billion to JPMorgan, an American investment bank.

"This is a relatively small transaction, representing around 2% of Northern Rock's gross assets, but it is a positive development in the Company's ongoing strategic review," said Andy Kuipers, the lender's chief executive. "It illustrates the quality of our assets, which has enabled us to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.