British Aston Martin is the dream car for many, and their cars are often very valuable. For the company’s investors, however, it has been a harrowing journey, and more than three-quarters of its market value has evaporated in the past three years.
Now the company is in the process of refinancing debt of 1.4 billion dollars, reports Bloomberg. This corresponds to just under NOK 15 billion.
First in line is a bond loan of 1.1 billion dollars, which expires in November 2025. The coupon rate of 10.5 percent means that the company must pay 120 million dollars annually to the bondholders.
Chairman and largest owner Lawrence Stroll took over the company back in 2020, when the brand was once again having financial problems. Since then, among others, Saudi Arabia’s state investment fund has entered the ownership side.
– We are considering several options together with the banks. It will of course be done in line with the company and the shareholders’ interests, Stroll told Bloomberg.
Despite the launch of several new models in recent years, the company has gone six years in a row without making a profit. The British brand is the one of the supercar brands that is doing the worst on the stock market.
2024-02-13 19:52:14
#Aston #Martin #refinance
