By Paul A. Harris
Portland, Ore., Feb. 25 – Aston Martin Lagonda Global Holdings plc price a £70 million equivalent dollar-denominated add-on to its 10½% senior secured notes due Nov. 30, 2025 (existing ratings Caa1/CCC) at 109 in a Thursday drive-by, according to a market source.
The transaction generated $98.5 million of proceeds.
The notes were sold via Aston Martin Capital Holdings Ltd.
Joint global coordinator and joint physical bookrunner JPMorgan will bill and deliver. Barclays was also a joint global coordinator and joint physical bookrunner. Passive bookrunners were Credit Suisse, Deutsche Bank and HSBC.
The Graydon, U.K.-based luxury sports car manufacturer plans to use the proceeds for general corporate purposes, including working capital requirements and capital expenditures.
Issuer: | Aston Martin Capital Holdings Ltd.
|
Face amount: | £70 million equivalent
|
Proceeds: | $98.5 million
|
Maturity: | Nov. 30, 2025
|
Security description: | Add-on to 10½% senior secured notes due Nov. 30, 2025
|
Physical bookrunners: | JPMorgan (bill and deliver) and Barclays
|
Passive bookrunners: | Credit Suisse, Deutsche Bank and HSBC
|
Coupon: | 10½%
|
Price: | 109
|
Call: | Callable at par after Nov. 30, 2024
|
Trade date: | Feb. 24
|
Settlement date: | March 4
|
Existing ratings: | Moody's: Caa1
|
| S&P: CCC
|
Distribution: | Rule 144A and Regulation S
|
Marketing: | Drive-by
|
Original issue: | $1,085,500,000 priced in October 2020
|
Fungibility: | Rule 144A add-on notes will immediately become fungible with the original notes; Regulation S notes will become fungible with the original notes after 40 days
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.