Aston Martin Lagonda is negotiating with bankers to address a looming debt pile, according to Executive Chairman Lawrence Stroll, with the company’s near-term liabilities amounting to roughly £1.1 billion.
The loss-making British luxury car-maker is seeking to refinance at a tumultuous time in debt markets following the surge in interest rates and uncertainty around rate cuts. Talks are set to focus on a $1.1 billion bond that’s maturing in November next year, with 10.5% coupon puts the company on the hook for payments of $120 million annually.
