Simpson Thacher represented Aston Martin in connection with its comprehensive refinancing transactions. The new financing package includes $960 million principal amount of 10.0% Senior Secured Notes due 2029, £400 million principal amount of 10.375% Senior Secured Notes due 2029 and a new £170 million revolving credit facility. The transactions closed on March 21, 2024. The proceeds from the bond offering, together with cash on balance sheet, were used to fully redeem Aston Martin’s 10.5% Senior Secured Notes due 2025 and 15.0% Second Lien Split Coupon Notes due 2026, as well as to repay borrowings under its existing revolving credit facility.
Aston Martin is a globally recognized ultra-luxury brand and a leader in the ultra-luxury sports car market. Founded in London in 1913, Aston Martin has a long heritage of exceptional design, engineering and manufacturing of ultra-luxury sports cars, as well as a longstanding racing pedigree. For more than 110 years, Aston Martin has been internationally recognized for its elegant and sophisticated British style, having built approximately 120,000 vehicles, from the iconic DB5 seen in the 1964 James Bond film Goldfinger, to the current core models, Vantage, DB12, DBS and DBX and a variety of special limited edition models.
The Simpson Thacher team included Gil J. Strauss, Srishti Gupta and Julie De Keukeleire (Capital Markets); Antti Pesonen, William Choules and Kwasi Mills-Bampoe (Credit); Yash Rupal, Caleb McConnell, Meredith B. Jones, Michael E. Mann, Daisy Dai and Phoebe Adams (Tax); Jonathan S. Pall (U.S. Collateral); and Jeanne Annarumma (ERISA).