Network Rail, the owner of the UK's railway infrastructure, is this week expected to sign a £10bn (€14.8bn) fundraising programme that will mean it can pay off some of its expensive bridging loans and raise much-needed working capital.

The not-for-profit company, which has its debt guaranteed by the UK government, is also trying to reach an agreement with the UK government's Strategic Rail Authority, the Department of Transport and the UK Treasury over a two-year funding plan that would mean it could issue securitised debt later this year.