YOUR REF: 2FG 17/68/01
OUR BEF: PD3
Ers 2 H Boothroyd Treasury Chambers Farliament Street LONDE SVIF 3AG
Extension 460
10 March 1975
B.
5
HONG KONG MASS TRANSIT
I refer to your letter of 5 March to David Royos.
We have today taken action as you suggested and asked our
Earne Union associates to agree upon maximum terms for this project. The sliding scale we have proposed is seven years credit for
£5 million, eight years aredit for £10 million, nine years credit for £15 million and ten years credit for £25 million.
Whilst we have not suggested for the moment that anything be done about it there is likely ultimately to be some difficulty, I would anticipate, about the date of 1 July 1978. This line of credit in directed principally towards the mechanicals and electricals as far as the UK is concerned and as these installations come towards the end of the construction period a more realistio date is likely to be
1 September 1979. However, we can deal with this point if and when it is made.
1 will keep Ian Rich informed as to reactions from other Credit Insurers,
00
D 1 Royoe Zoq
A C Stuart Tag
D of T
PCC /
0 X Lambert ing bank of England
E PANTOE
(23)
No comments yet.
Private notes are available after approval.