UPDATE 1-Aston Martin says it is in talks for potential funding to boost liquidity
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July 17 (Reuters) - Luxury carmaker Aston Martin AML.L said on Friday it has ongoing discussions with potential financing providers, following a media report that it is in talks with lenders including BlackRock-owned BLK.N HPS Investment Partners.
Here are some details:
The company said it regularly considers its capital structure and strategic options and remains focused on ensuring enough liquidity to support its strategy.
Shares of London-listed Aston Martin were down 2.3% at 36.2 pence at 15:08 GMT.
The statement was in response to a Bloomberg News report earlier on Friday that said Aston Martin was in talks with lenders including HPS.
The report said the proposed financing would be backed by company assets transferred beyond the reach of existing creditors through a "drop-down" transaction.
HPS did not respond to a Reuters request for comment. It had declined to comment to Bloomberg News.
The carmaker has been struggling with cash burn and falling sales due to U.S. tariffs and weak demand in China. It posted another quarterly loss in April.
The same month, Aston Martin had turned to a consortium led by top shareholder Lawrence Stroll for a £50 million ($67.2 million) funding boost to take liquidity at the end of the March quarter to £230 million.
($1 = £0.7446)
