McLaren is considering various funding options to help the sportscar maker and Formula 1 team owner negotiate the current financial climate, a spokesman said on Thursday. Sky News reported that British-based McLaren was seeking to raise up to 275 million pounds by borrowing against its Woking headquarters and extensive collection of historic racing cars. It quoted sources as saying McLaren, advised by JP Morgan, could raise the money in the form of new bonds with funding secured from existing or new bondholders. A request for a 150 million-pound loan from the government was recently rejected, according to media reports. “Like many other British businesses McLaren has been severely...
Full Story »