RE: Riverstone New Charge11 Mar 2024 13:38
Even if it is dressed up as a bailout by the backdoor, there is no way the government will let this fail, especially given the potential political fallout of a) a British warship being built overseas and b) the delicate restoration of power at Stormont. UKEF still come through - this isn't as simple as approving a £200,000 loan. A £200m syndicated, government backed loan, and the negotiation of SLA takes weeks and months. Riverstone wouldn't extend their facility, even to capitalise interest, if the exit wasn't clear, achievable and time-specific.