The Bank said it will start purchasing the debt on 25 March to "improve the functioning of corporate credit markets."
The Bank said it initially plans to conduct four auctions per week on Tuesdays, Wednesdays, Thursdays and Fridays.
In each auction the Bank will buy up to £2m ($2.9m) of each bond from issues with under £250m outstanding and up to £5m of each bond from issues with £250m and over
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