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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 wreaked havoc on 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 weeks of October, as Rolls-Royce and bankers are in talks with several sovereign funds, adding GIC, formerly known as the Singapore Government Investment Corporation, according to others close to the issue. .
Rolls-Royce showed the discussion, saying he contemplates all the financing options.
We continue to review all investment characteristics for balance strength and strength. Among other features, we assess the profits of obtaining capital of up to 2. 5 billion pounds, through various structures, adding the issuance of allowances and potentially other capital bureaucracies. . Our review also includes new debt issues,” the company said.
It added that no final decision had been taken “on whether or when to follow any of these characteristics or on the exact amount that might arise.
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 eliminate 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 it did not expect the call to revert to pre-pandemic grades for five years after the company was hit hard by the air drop as a result of the pandemic.
It also plans to raise more than 2 billion pounds by promoting the group’s divisions, adding up its ITP Aero turbine production business in Spain.
The company is considered a strategic interest in the UK, as the government has a “gold stake” in Rolls-Royce, preventing it from moving into foreign control.