Profile: Network Rail sings the praises of two-way CSAs
Network Rail is not the average corporate, but it cares about financing and hedging costs as much as any non-financial – which explains a decision to abandon its old collateralisation policy last year. The company’s treasurer, Samantha Pitt, talks to Duncan Wood
It would be difficult to work at Network Rail’s London headquarters and forget the company’s mission. The offices, next to the Regent’s Canal on the northern edge of the city centre, look out over the vast expanse of tracks running into the recently renovated stations of St Pancras International and King’s Cross – two of the 17 major terminals the company operates in the UK, along with 2,500 smaller stations, 20,000 miles of track and 32,000 bridges and tunnels.
That mission lies behind an
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