Aston Martin in talks with bankers over debt pile as repayment deadlines loom
Aston Martin is in talks with bankers over how to handle its £1.1bn debt pile, its executive chairman Lawrence Stroll has said.
In an interview with Bloomberg Television, Stroll said: “We are currently studying with our bankers the most appropriate actions of how to deal with it.”
“Obviously it will be addressed in the most appropriate manner possible and in the best interests of the company and its shareholders.”
The luxury carmaker has long sought a move into the green after a disappointing public listing in 2018 and ongoing debt struggles. It has raised finances from investors numerous times, including via a £216m share placing scheme in August.
According to data compiled by Bloomberg, the company has a revolving credit facility of £79m due for repayment next year, as well as a $121m (£96m) note.
Under Lawrence Stroll’s leadership, Aston Martin has brought in a string of new stakeholders including the Chinese automaker Geely and Saudi Arabia’s Public Investment Fund (PIF).
A significant part of the marque’s strategy has involved heavy investment in electrification, including a £2bn push over the next five years to a goal of producing its first EV by 2025.