Aston taps pricey rescue deal after long rally

By Owen Sanderson
25 Feb 2021

Aston Martin has launched a £70m-equivalent tap of its $1.085bn 10.5% notes, which have been trading more than nine points higher than when they were priced last year in the teeth of market volatility leading into the US presidential election.

JP Morgan is again leading the issue from the left, joined by Barclays as global coordinator and Credit Suisse, Deutsche Bank and HSBC as passive bookrunners. The proceeds are to be used for general corporate purposes, including working capital and capital expenditure.

The initial bond offering came ...

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