Sheffield Forgemasters: Finance

Business, Innovation and Skills written question – answered on 29th June 2010.

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Photo of Clive Betts Clive Betts Chair, Levelling Up, Housing and Communities Committee, Chair, Levelling Up, Housing and Communities Committee

To ask the Secretary of State for Business, Innovation and Skills what the planned repayment period was for the proposed loan to Sheffield Forgemasters which was withdrawn on 17 June 2010; and what the total planned repayment amount was, including interest payments.

Photo of Mark Prisk Mark Prisk The Minister of State, Department for Business, Innovation and Skills

The planned repayment period for the loan to Sheffield Forgemasters was 14 years. The total planned repayment amount would be £110.9 million.

Equity warrants would have provided an additional return to HMG the exact quantum of which would have depended on the outcome of the project.

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