Railtrack convertible bond focus

the company owes its bondholders some £1.5bn and overall they are confident the network operator is going to honour its promises

Owners of bonds sold by Railtrack said they expect the Government to fulfill its pledge to make all of the bond payments on time and in full, after it took control of the manager of Britain's rail network. 'The Government has said 'we've got to keep bondholders happy','' said John Anderson, who owns Railtrack debt as part of the £350m he helps manage at BWD Rensburg Unit Trust Managers in Leeds. 'I'm not worried about being paid interest and principal on time. I'm just resigned to it being a mess for a long time,'' he said. The UK Government obtained a court order on Sunday 7 October t...