Aston Martin Lagonda Global Holdings PLC (LON:AML)

Aston Martin Lagonda Global Holdings PLC (LON:AML)


Share Price
908.10 p
Change
38.1 (4.38 %)
Market Cap
£2,070.49 m
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Aston Martin Lagonda Global Holdings PLC RNS Release

Issue of Debt


RNS Number : 7516U
Aston Martin Lagonda Global Hld PLC
01 April 2019
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN OR AUSTRALIA

 

ASTON MARTIN LAGONDA PLACES $190M SENIOR SECURED NOTES DUE 2022

 

LONDON - 1 April 2019

 

Aston Martin Lagonda Global Holdings plc ("Aston Martin Lagonda" and together with its affiliates, the "Group") today announced that its subsidiary Aston Martin Capital Holdings Limited has privately placed $190,000,000 aggregate principal amount of 6.50% senior secured notes due 2022 (the "Notes").

 

The Notes constitute a further issuance of Aston Martin Capital Holdings Limited's 6.50% Senior Secured Notes due 2022 issued in April 2017 (the "Existing Notes"). Both issuances of notes will constitute a single class of debt securities under the Indenture dated April 18, 2017, including with respect to waivers, amendments, redemptions and offers to purchase, except as otherwise specified with respect to the Notes; provided that the Notes will be issued as a separate series from the Existing Notes under the Indenture and will have different CUSIPs and ISINs than the Existing Notes.

 

The net proceeds from the offering are expected to be used by the Group for general corporate purposes including allowing flexibility in the investment in portfolio expansion through Phase 3 of the Second Century Plan and to underpin resilience and a robust funding position.

 

This announcement contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

 

Note: Guidance for interest cost for 2019 is updated to reflect this placement to ~£63m (previous guidance ~£55m).

 

Cautionary Statement

The Notes will be offered only pursuant to Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act"), subject to prevailing market and other conditions. There is no assurance that the offering will be completed or, if completed, as to the terms on which it is completed. The Notes to be offered have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold, directly or indirectly, in the United States or to or for the account or benefit of U.S. persons, as such term is defined in Regulation S of the Securities Act, absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

The Notes are not intended to be offered, sold or otherwise made available to, and should not be offered, sold or otherwise made available to, any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); or (ii) a customer within the meaning of Directive 2002/92/EC (as amended or superseded, the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the "PRIIPs Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation. This announcement does not constitute and shall not, in any circumstances, constitute an offering to retail investors. The offer and sale of the Notes in any member state of the EEA will be made pursuant to an exemption under the Prospectus Directive from the requirement to publish a prospectus for offers of notes. No prospectus is required in accordance with the Prospectus Directive for the offering.

 

This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Notes. Consequently, this communication is directed only at persons who are (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) are outside the United Kingdom or (iv) are persons to whom an invitation or inducement to engage in investment activity within the meaning of section 21 of the Financial Services and Markets Act 2000 (the "FSMA") in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "Relevant Persons"). This communication is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. The Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such Notes will be engaged in only with, Relevant Persons. Any person in the United Kingdom that is not a Relevant Person should not act or rely on this communication or its contents.

 

MiFID II professionals/ECPs-only - Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels).

 

Forward-Looking Statements

This press release may include forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes, ‟estimates", ‟anticipates", "expects, ‟intends", ‟may", ‟will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Group's or its affiliates' intentions, beliefs or current expectations concerning, among other things, the Group's or its affiliates' results of operations, financial condition, liquidity, prospects, growth, strategies and the industries in which they operate. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and that the Group's or its affiliates' actual results of operations, financial condition and liquidity, and the development of the industries in which they operate may differ materially from those made in or suggested by the forward-looking statements contained in this press release. In addition, even if the Group's or its affiliates' results of operations, financial condition and liquidity, and the development of the industries in which they operate are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

 

Enquiries

Investors and Analysts

Charlotte Cowley    Director of Investor Relations                 +44 (0)7771 976764

                                                                                                [email protected]

Media

Kevin Watters         Director of Communications                    +44 (0)7764 386683

                                                                                                [email protected]

Grace Barnie           Corporate Communications Manager      +44 (0)7880 903490

                                                                                                [email protected]

Teneo: Tim Burt, Doug Campbell, Haya Herbert-Burns           +44 (0)20 7420 3189

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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