Drawn down balance commercial loan to Fergus Marine Engineering Limited: FOI release

Information requested

 

In relation to the commercial loan facility Scottish Ministers provided to Ferguson Marine Engineering Limited in June 2018 you asked “how much of the balance of £13m has been drawn down as of 4th March 2019 and has any further direct funding of any method been made available to the Company as of the same date.”

 

Response

 

On 27 June 2018 the Scottish Government announced that Scottish Ministers had approved the provision of a commercial loan facility for Ferguson Marine Engineering Limited of up £30 million. Between the date the loan was agreed and 4 March 2019, £25m of the £30m loan facility has been drawndown. As at 4 March 2019, Scottish Ministers had made no financial commitments to FMEL other than the loan facilities agreed in September 2017 and June 2018.

 

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