Commentary & Deal Flow

Aston Martin (AML LN, ASTONM), a global luxury car designer and manufacturer, has mandated Barclays, Goldman Sachs and HSBC as Joint Global Coordinators to arrange a series of virtual fixed income investor meetings taking place from March 4-6. A STG1.1bn-equivalent USD- and GBP-denominated RegS/144A 5- or 7-year senior secured bond issue (existing 1st lien Caa1/CCC+) is expected to follow, subject to market conditions. The proceeds will be used to refinance Aston Martin’s USD1.44bn 10.5% Senior Secured Notes due 11/30/25 (MWC T+50bp) and $121.7m 15% Second Lien Notes due 11/30/26 (callable at 108), as well as GCP. Goldman Sachs will coordinate USD logistics and Barclays will coordinate GBP logistics.