Aston Martin Lagonda (AML) has added $100m (£79m) in inventory financing after warning that it did not have sufficient working capital to survive the coming 12 months on its current spending trajectory.
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The new credit line, which will be available from May, is part of Aston’s redrawn funding facilities prompted by the arrival of incoming chair Lawrence Stroll, whose consortium has injected £262m as part of an overall £536m fundraising package. Aston also has until 8 July to access another $100m in debt. Coronavirus has forced the shutdown of the luxury carmaker’s two UK production facilities.