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Rolls-Royce (RR. L) plans to receive 2. 5 billion pounds ($3. 2 billion) from investors to shore up the balance sheet after the coronavirus crisis devastated the global aviation industry.
The Financial Times first reported that Rolls-Royce was running with Goldman Sachs (GS) bankers in the planned fundraiser.
The organization plans to launch fundraising in the first few weeks of October, as Rolls-Royce and bankers are in talks with various sovereign funds, adding GIC, formerly known as the Government of Singapore Investment Corporation, according to others close to the issue. .
Rolls-Royce showed the discussion, saying he contemplates all the financing options.
We continue to explore all investment characteristics for balance strength and strength. Among other features, we assess the benefits of obtaining capital of up to 2. 5 billion pounds, through various structures, adding a rights factor and potentially another capital bureaucracy. Our review also includes new debt factors,” the company said.
He added that no final resolution had been made “on whether to continue with any of these characteristics or when or on the exact amount that could be raised. “
READ ALSO: Coronavirus: Rolls-Royce closes plant as work continues
In August, the company that manufactures aircraft engines announced plans to close one of its UK plants in Annesley, Nottinghamshire, which will permanently close until 2023. La company manufactures parts for its Trent and Pearl engines. Approximately 120 employees will have the opportunity to be transferred to their major in Derthrough, about 20 miles away.
The company also announced plans to cut 9,000 jobs internationally in May and all of its civilian aerospace sites have been reviewed, as a component of a campaign to save 1. 3 billion pounds a year.
Rolls-Royce said he did not expect the call to return to pre-pandemic grades for five years after the company was hit hard by falling air as a result of the pandemic.
It also plans to raise more than $2 billion by promoting the group’s divisions, adding its ITP Aero turbine production business in Spain.
The company is a strategic interest in the UK, and the government has a “golden action” in Rolls-Royce, which prevents it from being under foreign control.