Not Towers specific - more Merlin Group, so mods please move topic if need be.
Article in todays Times newspaper Business section stating that Merlin are making noises about needing state aid from the Government to ride out the Covid-19 crisis. Can't repeat the article due to copyright & It's behind a pay-wall for Times subscribers, so cannot link it.
Article title is "Legoland owner sounds the alarm over it's future"
Summary...
Merlin has tapped the bond markets for €400m to bolster it's finances, but is now also looking at government schemes to help keep businesses afloat. Cost of Merlin furloughed staff is about £10m per month. If a "worse than expected scenario" occurs, with a shut-down extending to/beyond mid-July, Merlins' liquidity could be exhausted without new funds. Merlin's debt has risen to £4.2bn, at end of last year, up from £2.2bn a year earlier. Merlin has debt interest payments of about £12m a month, arising from bonds issued when it was publicaly traded.
Article in todays Times newspaper Business section stating that Merlin are making noises about needing state aid from the Government to ride out the Covid-19 crisis. Can't repeat the article due to copyright & It's behind a pay-wall for Times subscribers, so cannot link it.
Article title is "Legoland owner sounds the alarm over it's future"
Summary...
Merlin has tapped the bond markets for €400m to bolster it's finances, but is now also looking at government schemes to help keep businesses afloat. Cost of Merlin furloughed staff is about £10m per month. If a "worse than expected scenario" occurs, with a shut-down extending to/beyond mid-July, Merlins' liquidity could be exhausted without new funds. Merlin's debt has risen to £4.2bn, at end of last year, up from £2.2bn a year earlier. Merlin has debt interest payments of about £12m a month, arising from bonds issued when it was publicaly traded.