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Sebastian Vettel captures Belgian Grand Prix

SPA-FRANCORCHAMPS, Belgium – Ferrari's Sebastian Vettel sped away from first corner carnage to celebrate a commanding Belgian Grand Prix victory on Sunday and trim Lewis Hamilton's Formula One lead to 17 points with eight races remaining. Hamilton, last year's winner in Belgium, started from pole position but finished second for Mercedes while Red Bull's Max Verstappen gave his army of Dutch fans something to cheer with third place. In the battle of four-times world champions, Hamilton now has 231 points to Vettel's 214. "I had a great start, I'm not sure Lewis saw me as he pushed me to the left in the first lap, but after last year I ended up short, and this year it was the other way around," said Vettel of his decisive pass on Hamilton. "As soon as I was ahead I relaxed. I had a good restart after the safety car, and after that it was a very smooth race," he added. The start provided most of the afternoon's excitement, with Fernando Alonso's McLaren flying over Charles Leclerc's Sauber at the La Source hairpin after being rammed by Renault's Nico Hulkenberg. All three retired as the safety car was deployed for four laps but Leclerc had reason to thank the 'halo' head protection system -- introduced this season -- for allowing him to step away unscathed. Television close-up images after the race showed the structure heavily marked by the impact. "The Halo was a very good thing to have today. I think for him, it helped," commented Spaniard Alonso, who will be leaving Formula One at the end of the season. Ferrari's Kimi Raikkonen, a four times winner in Belgium, and Red Bull's Daniel Ricciardo also collided at the start and retired after pitting, the Finn having to wait for his 100th career podium. At the front, Vettel swiftly seized the lead from Hamilton down the Kemmel straight on the opening lap and never looked back, taking the checkered flag 11.0 seconds clear of Hamilton. "He drove past me like I wasn't even there on the straight," said Hamilton, who was quick to shake his rival's hand and offer congratulations. "They have got a few trick things going on in the car," he added. "I did what I could, we did what we could so we have to keep working." It was the German's fifth win of the campaign, matching his British rival, and 52nd of his career -- one more than the great four times champion Alain Prost managed. Hamilton's team mate Valtteri Bottas finished fourth, and set the fastest lap, after starting 17th.

Ferrari CEO confirms hybrid model will be revealed this month

Ferrari confirmed it's going to reveal a hybrid supercar before the month is over in its Q1 2019 financial call. CEO, Louis Camilleri made the statement. "The second model will be presented at the end of this month, with the world premiere held here in Maranello. As we have stated previously, it will be a top-of-the-line hybrid with supercar performance and a true beauty," Camilleri said. The Motley Fool posted a transcript of the entire earnings call online, and Motor1 initially reported the news. We knew a hybrid supercar was on its way, but now we know it's for sure happening this month from Maranello. The most recent rumors and reports concerning this car was that it would be a twin-turbo V6 with a combined system output of 723 horsepower and 800 pound-feet of torque. A V8 hybrid powertrain in a different model is also expected to be revealed at some point, but that's reportedly going to come after the V6. Camilleri went on to say that this car "will be above the 812 Superfast. So it's not a 488 replacement per se." The 812 Superfast has supercar performance from its 6.5-liter V12, but it's more of a grand tourer in the Ferrari lineup. And the F8 Tributo was just released as the 488 GTB's successor, so it's more likely to be similar to the 812 with a different powertrain. Sitting above the 812 Superfast is no small chore, though, as that car makes 789 earth-shattering horsepower and 530 pound-feet of torque. Ferrari has dabbled in a hybrid powertrain before with the LaFerrari. That car had a 6.3-liter V12 supplemented by a HY-KERS unit, providing an extra 161 horsepower and 199 pound-feet of torque from its electric motor for a grand total of 950 ponies and 715 pound-feet of torque. This hybrid Ferrari will certainly be less powerful than that, but we don't know exact layout or function of the new system Ferrari is going to use yet. Watch out toward the end of May for this electrified Ferrari to finally make its debut.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.