CORRECTED-Aston Martin in talks to raise new funding, Bloomberg News reports

BlackRock, Inc.

BlackRock, Inc.

BLK

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Corrects third bullet to say company had reported overall quarterly loss in April and not in China. The company does not break out figures for the region.

July 17 (Reuters) - Luxury carmaker Aston Martin AML.L is in talks with lenders including BlackRock BLK.N-owned HPS Investment Partners to raise additional funds, Bloomberg News reported on Friday, citing people familiar with the matter.

Here are some more details:

  • The proposed financing would be backed by company assets transferred beyond the reach of existing creditors through a "drop-down" transaction, the report said.

  • Aston Martin and HPS did not immediately respond to Reuters requests for comment. They 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)


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