£ of this was accounted for by conversion of the 3.5% issue, and a further £ by holders of 2.5% and 2.75% Consols, who were also allowed to transfer to the higher interest rate.
£176 million of this was accounted for by conversion of the 3.5% issue, and a further £138 million by holders of 2.5% and 2.75% Consols, who were also allowed to transfer to the higher interest rate.