Bond issue guarantees Aston Martin future
ASTON Martin Holdings (UK) has successfully completed its £304m maiden bond issue, guaranteeing the firm’s future for the next seven years.
The issue of the secured high yield notes will provide the long-term financial stability necessary for the Warwickshire based firm to press ahead with its continued development.
Dr Ulrich Bez, Aston Martin chief executive, said: “Our successful bond issue represents a milestone and provides strong, long-term financial foundations for the company as we enter a new phase of growth.
“We have already demonstrated the strength of our brand and business model, as evidenced by last year’s 36% rise in sales and 61% increase in EBITDA. The success of the bond issue highlights investor recognition of our capabilities and confidence in our strategy.”
He said the company had a proven record of bringing cars to market very quickly, partly due to its efficient manufacturing capabilities.
“This, coupled with our globally renowned brand enabled Aston Martin to remain robust and resilient during the economic downturn,” he added.
“We now have long-term financing in place alongside our current product range and development pipeline, which are the strongest in our history.
“Our growth will be driven both by the continuing recovery in our traditional markets and the opening up of new markets. With our firm financial platform, we look forward to capitalising on the many opportunities ahead of us.”
The company has recently announced it is to move production of its four-door Rapide model back to its Gaydon base.
It had used Austria’s Magna Steyr factory to build the model since 2009 because of capacity constraints at Gaydon. However, this has been resolved and production will begin in the second half of 2012.
