Show Notes
Aston Martin has survived seven bankruptcy proceedings in a century, and the eighth chapter is now being written in a bondholder co-op agreement. Phoebe Appenteng and Katie McMahon are joined by Rafi Rees, Credit Analyst at Octus, to work through the iconic British carmaker's latest brush with distress.
The conversation opens on Lawrence Stroll's 2020 turnaround plan and where the volume math broke down (02:02), before turning to the capital structure and why headline liquidity of £177 million is misleading once minimum cash requirements are stripped out (04:19). Rafi walks through the recent 100 million liquidity injection, the super senior priming facility, and why the 2029 SSNs snapped back into the mid-70s (05:59). The discussion lands on who could actually buy this trophy asset, and why sovereign wealth, Mercedes, and Geely each carry a catch (10:08).
Then Phoebe and Katie build their own stressed holiday itinerary, entirely from the Octus coverage universe. The producer and editor were not invited.
-- more -- Hosted by Phoebe Appenteng and Katie McMahon. Guest: Rafi Rees, Credit Analyst, Octus EMEA Produced by Charlie Hall. Edited by Fawaz Muhammed. A Production of The Octus Podcast Network
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