StockMarketWire.com - Aston Margin Lagonda Global Holdings announced its successful completion of the private placement of $150m 12% senior secured notes due 15 April 2022, with the option to draw up to $100m additional notes to improve financial flexibility.

The company said that the DBX launch remains on track with strong demand for Specials.

Mark Wilson, Aston Martin Lagonda chief financial officer, commented:

'At the H1 results we highlighted that we expected macroeconomic headwinds and uncertainty to continue. These circumstances require flexibility in our financing arrangements to ensure that resources are available to deliver the Second Century Plan. What we have announced today is a cost and time-effective structure that immediately strengthens our liquidity in the short term and the option to draw further funding as we successfully execute the plan.'

'The conditions on the Delayed Draw Notes are well within our order expectations. Aston Martin's first SUV, the DBX, remains operationally on track and we are very pleased with the reception the car received at Monterey Car week during August.'

'Meanwhile, demand for our Special vehicles remains strong with the Aston Martin Valkyrie hypercar sold out and excess customer demand for the mid-engined Valhalla. Additionally, the DB4 GT Zagato Continuation cars are now in production and on track for delivery by the end of 2019.'

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