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Aston Martin plans £70 million equivalent dollar-denominated tap of 10½% notes due 2025
By Paul A. Harris
Portland, Ore., Feb. 25 – Aston Martin Lagonda Global Holdings plc subsidiary Aston Martin Capital Holdings Ltd. plans to price a £70 million equivalent dollar-denominated add-on to its 10½% senior secured notes due Nov. 30, 2025 (existing ratings Caa1/CCC) in a Thursday drive-by, according to a market source.
Joint global coordinator and joint physical bookrunner JPMorgan will bill and deliver. Barclays is also a joint global coordinator and joint physical bookrunner.
Credit Suisse, Deutsche Bank and HSBC are the passive bookrunners.
The notes become callable at par after Nov. 30, 2024.
The Graydon, U.K.-based luxury sports car manufacturer plans to use the proceeds for general corporate purposes, including working capital requirements and capital expenditures.
The original $1,085,500,000 issue priced on Oct. 30.
The Rule 144A add-on notes will immediately become fungible with the original notes. The Regulation S notes will become fungible with the original notes after 40 days.
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