Luxury carmaker Aston Martin Lagonda said it had raised $150 million from a bond...
FILE PHOTO: The Aston Martin Lagonda Vision Concept car is pictured during the 88th Geneva International Motor Show in Geneva, Switzerland, March 6, 2018. REUTERS/Denis Balibouse/File Photo
The main tranche comprises 12% notes due in 2022, while the additional notes could be issued under the same terms if permitted or could be issued as unsecured notes with an interest rate of 15%, it said on Wednesday. “What we have announced today is a cost and time-effective structure that immediately strengthens our liquidity in the short term and the option to draw further funding as we successfully execute the plan,” he said.
Shares in the company, which listed in London in autumn 2018 at a price of 19 pounds, closed at 5.75 pounds on Tuesday.Aston Martin said on Wednesday its first sports utility vehicle, the DBX, remained on track and it was pleased with the reception the car received at Monterey Car week during August.
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