UK to buy short-term debt from big companies hit by coronavirus
Share:
LONDON (Reuters) - Britain launched a new lending scheme on Tuesday to provide short-term bridging finance for large businesses hurt by the spread of coronavirus, which will be run and funded by the Bank of England.The Covid Corporate Financing Facility, announced by Chancellor of the Exchequer Rishi Sunak, will buy a type of debt called commercial paper with a maturity of up to 12 months from businesses which had an investment-grade credit rating or similar pre-crisis."It will help businesses..