Rolls-Royce to raise billions in emergency plan to survive pandemic
The shares tumble to a 17-year low as the jet-engine maker seeks to shore up capital
01 October 2020 - 23:08
London — Rolls-Royce announced plans on Thursday to raise £2bn in new debt, joining the list of the biggest sub-investment grade deals in Europe in 2020.
BNP Paribas, Citigroup and HSBC are the banks co-ordinating Rolls-Royce’s £1bn-equivalent bond offering as well as a new term-loan facility of the same amount, according to people familiar with the matter, who asked not to be named discussing private information. The company will also tap existing shareholders for £2bn in a rights issue...
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