News Details
McLaren ‘seeking £150m Bahrain bank loan'
McLaren are set to address their financial worries by arranging a loan from the National Bank of Bahrain (NBB) to provide a £150m cash injection next month. Autosport are reporting the move would allow the company to obtain at least the first stage of the required refinancing from a ‘friendly’ organisation that shares a significant part of its ownership with McLaren itself. The NBB is 44% owned by the Mumtalakat Holding Company, Bahrain's sovereign wealth fund, which also owns 56% of McLaren. A loan between the two parties would be on more favourable terms than those available on the financial markets. Court documents have indicated McLaren are seeking £280m altogether and that new...
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5y ago from PlanetF1.com
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