GAYDON, England, March 21, 2014 /PRNewswire/ --
Aston Martin Holdings (UK) Limited announces that it has secured additional funding through the issue of $165 million Senior Subordinated Pay-in-Kind (PIK) notes due 2018 (the "Notes").
The Notes, purchased by Waddell & Reed, Inc., accrue interest in kind at a rate of 10.25% per annum.
Aston Martin Chief Financial Officer, Hanno Kirner, commented: "Together with the issuance of the senior secured bonds in 2011 and the capital increase in 2013, we have put in place the key elements of our funding strategy. This provides a solid foundation for the execution of our future product plan, allowing Aston Martin to pursue its strategic objective of continuing to develop and launch some of the world's most exciting new sports cars."
About Aston Martin:
Aston Martin is a world-famous British manufacturer of luxury sports cars. Founded in 1913, and now in its second century of sports car-making, the company is synonymous with exceptional quality and craftsmanship.
The blueprint for all Aston Martins remains constant - they are characterful and exciting cars built to the highest standards. All are imbued with the brand's key features of Power, Beauty and Soul - combining pure performance and true sporting ability with passion, refinement, luxury and exceptional beauty.
Aston Martin is based in Gaydon, England. Its cars are handcrafted by highly-skilled engineers and technicians, guaranteeing the utmost attention to detail and precision across the range. Today, the line-up comprises the iconic Vantage family of V8, V8 S, and extreme V12 Vantage S, the timeless DB9, luxurious Rapide S four-door sports car and ultimate super GT - the Vanquish.
Aston Martin has a global network of 148 dealerships across 44 countries and has built around 70,000 sports cars in its 101-year history - underlining its truly exclusive, bespoke nature.
SOURCE Aston Martin