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Aston Martin Bond Issue Raises $150 Million
Aston Martin Lagonda Global Holdings plc says it has sold $150 million in 12% senior secured notes.
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Aston Martin Lagonda Global Holdings plc says it has sold $150 million in 12% senior secured notes.
The company says it may issue another $100 million in bonds. The funding will be used to deal with what Chief Financial Officer Mark Wilson describes as expected “macroeconomic headwinds and uncertainty” pending next spring’s launch of its first SUV/crossover, the $200,000 DBX.
Aston Martin has sold out production of its $3.4 million Valkyrie hypercar and says orders for the $1.1 million mid-engine Valhalla hypercar outstrip planned production. Both models are due in 2021.
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