Luxury carmaker Aston Martin is in talks with lenders including BlackRock-owned HPS Investment Partners to raise additional funds, Bloomberg News reported on Friday, citing people familiar with the matter.
Here are some more details:
- The proposed financing would be backed by company assets transferred beyond the reach of existing creditors through a “drop-down” transaction, the report said.
- Aston Martin and HPS did not immediately respond to Reuters requests for comment. They had declined to comment to Bloomberg News.
- The carmaker has been struggling with cash burn and falling sales due to US tariffs and weak demand in China. It posted another quarterly loss in April.
- The same month, Aston Martin had turned to a consortium led by top shareholder Lawrence Stroll for a £50m (R1,112,962,500) funding boost to take liquidity at the end of the March-quarter to £230m (R5,119,627,500).
Reuters
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