British company Rolls-Royce has announced that it intends to raise 3 billion pounds in borrowing to support its finances after the civil aerospace industry plummeted due to the pandemic.
The engine manufacturer will receive £ 2bn from shareholders through a new share issue, with the remainder coming from a new bond issue.
Rumors that Rolls-Royce will seek funding for its debt obligations emerged in early September. The company has been hit hard by the coronavirus-related slowdown in air travel.
The government holds a golden share in Rolls-Royce that prevents a company deemed to be of strategic interest to the UK from coming under foreign control.
