Williams GPE finalises refinancing process
By Andrew Hooper
April 11 2020
With the sale of Williams Advanced Engineering in December 2019 Williams Grand Prix Engineering has had to move through a process of refinancing the companies corporate borrowings. This has seen the company enter into a new refinancing arrangement with banking partner HSBC. As for whether this is a last attempt to keep Williams GPE afloat is a matter for discussion but it would seem that this refinancing is very much something that will allow the team to get past its current difficulties and recover financially.
If you do not already have an account Click here to Register.
Seems to be a copy of many similar posts. :-)
To me it seems like the writer is unfamiliar with the loans Williams had before the sale of most of WAE.
The previous arrangements had all of WGPH assets pledged along with WAE, as WGPE now only holds a small proportion of WAE the Heritage Assets are merely a substitution.
Again this article talks about the F1 entry, I think this needs further explanation by the writer as I don't understand it. The entry belongs to WGPE and is not transferable, Sir Frank is the major share holder in WGPE and as far as I can see
these shares are not part of the security offered.
Still no source for the £50m loan amount. :-(
Even if the loan amount is correct the security offered and the loan amount is not much different to the position 5-6 years ago except that then none of the lenders actually wanted an F1 team whereas now one of them might.