Rolls-Royce: No Final Decision Reached on Debt, Equity Funding Options
September 16 2020 - 1:22PM
Dow Jones News
By Adriano Marchese
Rolls-Royce Holdings PLC said Wednesday that it continues to
review a range of funding options to further strengthen its balance
sheet, but that it has yet to make a final decision.
The U.K. engineering company said it is mulling the idea of debt
and equity as a part of its funding options review.
It noted that it has already taken action to strengthen its
liquidity with 6.1 billion pounds ($7.86 billion), and with a
further GBP2 billion term loan agreed in the second half of the
year.
This is intended to complement the already-announced
cost-mitigation worth GBP1 billion in 2020, as well as the
reorganization of its civil-aerospace business to save an
additional GBP1.3 billion annually.
Moreover, the company said it has identified a number of
potential disposals that are expected to generate proceeds of more
than GBP2 billion over the next 18 months, which include the sale
of ITP Aero.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
September 16, 2020 13:07 ET (17:07 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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