£14bn book firms up Rolls-Royce rescue plan

By Owen Sanderson
15 Oct 2020

The bond piece of Rolls Royce’s £5bn Covid-19 rescue plan was a storming success this week. The issue doubled in size on the back of a combined book of £14bn, showing the firm still has excellent access to private sector liquidity — a strong message as Rolls turns to shareholders for a £2bn rights issue.

At the beginning of October, Rolls-Royce announced measures the market had been expecting for months: a combined share, bond and loan package to shore up the company’s liquidity and see it through to the other side of the pandemic-induced slump in air travel.

The £1bn term loan ...

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