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FINWIRES

Aston Martin Says GBP550 Million Financing Pledge Secures Against Assets in New Unit

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Aston Martin Lagonda Global Holdings (AML.L) used certain assets parked in a newly incorporated subsidiary along with certain other assets, as a pledge for its newly secured 550 million-pound-sterling debt financing.

The London-listed luxury car group was responding to investors' concerns regarding the debt financing, according to a July 24 release.

The senior secured notes due 2029 continue to be secured by a pledge over the shares in Aston Martin Lagonda Ltd., which is an indirect parent entity of the new subsidiary, the company noted.

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