Aston Martin to pay dizzying 12% for ‘rescue financing’, S&P slashes rating
![Aston_rain_alamy_230x150](https://assets.euromoneydigital.com/dims4/default/ca3fac3/2147483647/strip/true/crop/230x150+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fdd%2F36%2Fc028e229198719705c55866be022%2Faston-alamy-rain-230x150.jpg)
Aston Martin printed a $150m senior secured private placement (PP) this week at a racy yield of 12%. But some investors felt was more like an equity raise — stirring memories of the firm’s torrid IPO in October. S&P showed no mercy at the iconic carmaker swelling its leverage, cutting its credit rating to triple-C. The firm is now placing its future in the hands of a new luxury SUV.
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