Fitch Downgrades National Bank of Bahrain, Bank of Bahrain and Kuwait
Fitch Ratings has downgraded National Bank of Bahrain and Kuwait B.S.C.'s (BBK) Long-Term Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Outlook is Stable.
McLaren Issues £150 Million Shares in return of NBB Loan
McLaren's half-year financial statements showed that 653,651 shares were issued at £229.48 per share, with a total value of £150 million, in return of a loan from the National Bank of Bahrain. McLaren recorded the value of the loan in the company's equity clause.
Despite National Bank of Bahrain Loan, McLaren Needs More Money
McLaren Group says falling sales of its vehicles means that it will need to raise further funds, despite securing a life-saving 150 million pound ($190 million) loan in June.
Motor Racing: McLaren's Formula One Future was Never a Doubt, Says Seidl
McLaren's Formula One future was never in doubt despite a cash crisis brought on by the COVID-19 pandemic and now resolved by a fresh injection of funds, team principal Andreas Seidl said on Tuesday.
National Bank of Bahrain Grants McLaren £150 Loan
The National Bank of Bahrain has granted a £150million loan to McLaren to help it cope with the aftermath of the Coronavirus pandemic.
Decision to Lend McLaren Taken outside NBB: Source
Who issued the decision to lend the McLaren Company a £280 million loan (BD 131 million)? Why did this happen without guarantees? What are the consequences of this decision?
NBB Admits Negotiations are at Advanced Level to Grant McLaren Loan
The National Bank of Bahrain stated that in the light of the recent reports, the bank is currently holding discussions with McLaren about credit facilities. These discussions are at an advanced stage and no agreement has been reached so far. However, these discussions may or may not lead to the extension of credit facilities.