(18 March 2010 – UK) 84 percent Treasury owned Royal Bank of Scotland is reportedly planning a major debt restructure.The Financial Times, which cited people close to the bank, said that RBS wanted to buy back at least £10 billion (A$16 billion) of its total debt pile currently amounting to a staggering £28 billion.
A spokesperson for the Royal Bank of Scotland declined to comment on the rumoured reshuffle when contacted by AFP.
The Financial Times report added that RBS finance director Bruce van Saun was expected to announce the plan at some stage in the next two weeks.