Aston Martin preps huge financing package to fund electric future
Aston Martin, the British luxury carmaker, has arranged a new financing package to strengthen its balance sheet and cash reserves as it embarks on an ambitious new partnership with German car giant Mercedes-Benz, to start producing electric cars. The bond leg, however, was launched into a difficult market, with the Crossover widening sharply during the first day of bookbuilding.
James Bond’s favourite marque announced on Wednesday that it has signed an expanded and enhanced technology agreement with Daimler subsidiary Mercedes-Benz.
The agreement gives Aston Martin access to advanced technologies, which Mercedes will provide in exchange for new shares in the UK firm.These new technologies will be ...