Aston Martin expected to price £840 million equivalent five-year notes on Friday

By Paul A. Harris

Portland, Ore., Oct. 28 – Aston Martin Lagonda Global Holdings plc plans to price £840 million equivalent of five-year senior secured notes (expected ratings Caa2/CCC) in two tranches on Friday, according to market sources.

The deal features dollar-denominated notes and sterling-denominated notes. Initial talk on both is in the high 8% area to 9%, sources say.

JPMorgan is leading the Rule 144A and Regulation S deal.

The notes in both tranches come with two years of call protection.

The Graydon, U.K.-based luxury sports car manufacturer plans to use the proceeds, together with other funds, to redeem its existing senior secured notes, to repay certain other debt and for general corporate purposes, including working capital and capital requirements.

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