Automakers

Aston Martin buys an expensive insurance policy for new SUV

ASTON_MARTIN_DBX_PROTYPE_IN_SWEDEN-jpg (1).jpg
CH
By:
CHRIS HUGHES
B
By:
Bloomberg
|
October 02, 2019 01:56 PM

The maker of Aston Martin sports cars is buying what it calls an insurance policy against the risk it runs out of cash before the most critical product launch in its 106-year history.

The terms of a new $250 million debt package unveiled last month show just how limited the UK company's options for securing funds are as it seeks to challenge Bentley and Lamborghini in the market for luxury SUVs.

Staying current is easy with newsletters delivered straight to your inbox.