Economic news

Aston Martin raises $150 million from bond issue

Luxury automaker Aston Martin Lagonda stated it had raised $150 million from a bond issue, with the choice to secure another $100 million if request targets are met, to improve its liquidity in a dubious exchanging condition.

aston martinPhoto: Flickr

The fundamental tranche involves 12 percent notes due in 2022, while the extra notes could be given under similar conditions whenever allowed or could be given as unbound notes with a borrowing cost of 15 percent, it stated on Wednesday.

CFO Mark Wilson stated the organization anticipated that financial headwinds and vulnerability should proceed.

"What we have declared today is an expense and time-compelling structure that quickly reinforces our liquidity in the short term and the alternative to drawing further subsidizing as we effectively execute the arrangement," he stated.

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