Centrica unveils unusual pensions funding deal

The owner of British Gas has arranged to use intra-company loans to help finance its pension fund

Centrica, the energy group behind British Gas, has set up an unusual accounting structure to help finance its £5bn pension schemes, diverting interest-payments from various intra-group loans to give the schemes a secure income.

In its annual results yesterday, the gas and energy supplier said it had set up a special subsidiary company, a Scottish Limited Partnership, and transferred "certain loans to UK group companies" into it.

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Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on ItExternal link

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It