Bidders line up for second student debt sell-off

BIDS are invited for the second Pounds 1 billion sale of student loan debt from 17 potential applicants. The government will select three or four candidates to go to the next stage of competition. The subsidy structure used in the sale is likely to be similar to the first, in which Greenwich NatWest was the successful bidder.

The applicants at this stage are: Abbey National Treasury Services, Banque Paribas, Barclays Capital, Bear Stearns International Limited, Credit Suisse First Boston (Europe) Limited, Deutsche Bank, Dresdner Kleinwort Benson, Goldman Sachs International, Greenwich NatWest, Lehman Brothers, Morgan Stanley & Co International Limited, Nationwide Building Society, Nikko Europe Plc, Nomura International Plc, Paine Webber Incorporated, Sallie Mae Servicing Corporation, Sumitomo Finance International Plc. Bids must be in by October 9.