Aston Martin Lagonda Global Holdings PLC on Friday said it has raised £135 million through the private placement of senior secured notes.
The Gaydon, England-based luxury sports car maker said the move has further strengthened its financial position and supported long-term growth.
It explained that its subsidiary Aston Martin Capital Holdings Ltd has privately placed $90 million aggregate principal amount of 10.000% senior secured notes due 2029 and £65 million aggregate principal amount of 10.375% senior secured notes due 2029.
‘Last week at our first half 2024 results we highlighted the positive progress made by Aston Martin so far this year as we continue to execute our immense product transformation, which will support volume growth and sustainable positive free cash flow generation later this year,’ Chief Financial Officer Doug Lafferty.
‘Following positive feedback after the results from the capital markets with encouraging demand from the company’s existing bond holders, we are pleased to announce today that we have successfully priced a £135 million equivalent private placement. These new senior secured notes, along with the refinancing completed in March 2024, provide Aston Martin with additional liquidity as we continue an exciting second half of the year.’
Shares in Aston Martin were down 0.7% to 151.10 pence each in London on Friday morning.
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