Aston Martin Lagonda Priced a GBP1.15Bln Refinancing To Strengthen its Financial Position

By Najat Kantouar

Aston Martin Lagonda Global Holdings said it has successfully priced a GBP1.15 billion ($1.47 billion) refinancing to strengthen its financial position and support its long-term growth.

The U.K. luxury-car maker said Wednesday that its subsidiary priced $960 million aggregate amount of 10.000% Senior Secured Notes due 2029 and GBP400 million aggregate principal amount of 10.375% Senior Secured Notes due 2029.

Existing lenders have entered into a new revolving credit facility agreement, increasing their binding commitments by GBP70 million to GBP170 million, the company added.

"With Aston Martin's long-term financing now secured, we can focus on the continued execution of our brand and product strategy which will underpin the attainment of our near and medium-term financial targets," Executive Chairman Lawrence Stroll said.

Write to Najat Kantouar at [e-mail]

(END) Dow Jones Newswires

03-13-24 1449ET