BUSINESS LIVE: FTSE rises as Astrazeneca confirms vaccine 90% effective; Cineworld secures extra liquidity; AA receives £210m offer
AstraZeneca’s vaccine trial and Prime Minister Boris Johnson’s speech today outlining the loosening of lockdown restrictions that will happen after December 2 are both expected to send the FTSE higher today.
Cineworld Group has secured waivers for its debt covenants until June 2022 along with $450million in new loans in a deal to ride out the Covid-19 pandemic which also sees it issue equity warrants worth around 11 per cent of its share capital.
Breakdown group the AA, which is struggling with very high debt levels, has received a £209.6million non-binding offer from private equity firms Warburg Pincus and TowerBrook Capital Partners.
