By Paul A. Harris
Portland, Ore., March 21 - Aston Martin Holdings (UK) Ltd. stated in a Friday press release that it has placed $165 million of 10¼% senior subordinated PIK notes due 2018 with a fund controlled by Waddell & Reed.
"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," Aston Martin chief financial officer, Hanno Kirner, stated in the release.
"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."
Aston Martin is a Gaydon, England-based custom car company.
| Issuer: | Aston Martin Holdings (UK) Ltd.
|
| Securities: | Senior subordinated PIK notes
|
| Amount: | $165 million
|
| Maturity: | 2018
|
| Coupon: | 10¼%
|
| Announcement date: | March 21
|
| Investor: | Waddell & Reed
|
| Format: | Private placement
|
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