Wednesday, March 28, 2012
Announcement regarding Formula One finances
Formula One Group has launched a process to expand its current financing facilities. This will involve raising $2.27bn of new services with maturities in 2017/18, replacing the company’s accessible $2.92bn facilities which are due to full-grown in 2013/14. The new facilities will offer the business with a secure, long term capital structure.
Proceeds raised will be kept within the Group for general business purposes and the company has no current plans to pay a bonus.