Barclays advises government on latest student loans sell-off push
Bankers have been appointed by the government as it seeks to sell-off up to £12bn-worth of student loans.
Ministers are preparing to kick-off the latest sale of loans issued to students before 2012, and City PM has learned Barclays is advising on the deal.
The Treasury announced in last year’s Autumn Statement that it was continuing to pursue the sale and, “subject to market conditions”, would launch the first sale early this year.
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In January 2014, Mark Russell, the chief executive of UK Government Investments, which manages government-owned assets, said the £12bn sale would take place that year.
However, the plans were later shelved by the government and then-business secretary Vince Cable.
Three years on, the government is again seeking investors for the debts.
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The government is also currently in the process of privatising the Green Investment Bank, although the deal has come under fire this week after it was suggested preferred bidder Macquarie had asset-stripping plans in place.
The Department for Education and Barclays declined to comment.