Aston Martin in talks on debt pile, says Stroll
UK luxury car maker Aston Martin Lagonda is in talks with bankers to address a looming debt pile, executive chairman Lawrence Stroll said on Tuesday, with the company’s near-term liabilities amounting to around $1.4bn.
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“We are currently studying with our bankers the most appropriate actions of how to deal with it,” Stroll said in an interview with Bloomberg Television. “Obviously it will be addressed in the most appropriate manner possible and in the best interests of the company and its shareholders.”
The loss-making marque has raised money a number of times, including from new major shareholders. Talks are set to focus on a $1.1bn bond maturing in November next year, whose 10.5% coupon will require payments of $120m a year.
Reporting by Frank Prenesti for Sharecast.com