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Aston Martin secures yet more financing

The luxury carmaker was due to start delivering its new SUV model this year
March 31, 2020

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.

IC TIP: Sell at 208p

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.