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 najat.kantouar@wsj.com
(END) Dow Jones Newswires
03-13-24 1449ET