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Northern Rock to skip optional Dec. 31 payment on 12 5/8% notes
By Caroline Salls
Pittsburgh, Nov. 20 - Northern Rock (Asset Management) plc will not make an optional Dec. 31 interest payment on its outstanding £20 million of 12 5/8% perpetual subordinated notes, according to a news release.
Northern Rock is a Newcastle, England-based state-owned bank.
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