Rolls-Royce seeks $2.6 billion in make-or-break share issue

Investing.com | Oct 26, 2020 at 1:00 AM
  • Aero-engine maker Rolls-Royce (OTC:RYCEY) will ask shareholders on Tuesday for 2 billion pounds ($2.6 billion) in a make-or-break attempt to survive the COVID-19 pandemic.
  • At stake is the future of a company which has been at the heart of manufacturing in Britain for more than 100 years, making engines that powered World War Two bombers and still drive the country’s fighter jets and nuclear submarines.
  • In a sign of Rolls’s strategic importance, the UK government has guaranteed a 1 billion pound loan on top of the 2 billion pounds it backed in July through its UK Export Finance arm.