The Aston Martin Formula 1 team has put a proposed five-year sterling retail bond on hold to fund its new factory as more attractive funding sources become available, it said on Monday. The Mercedes-powered team, owned by Canadian billionaire Lawrence Stroll, announced the 7.0% bond last month, hoping fans could attend.
Stroll told Reuters in October that the “campus” – three buildings including a new wind tunnel – would take three years, at an estimated cost of around £ 220 million ($ 300.48 million). He said the bond was “the most logical way to finance the campus and give fans a chance to get involved”.
An update on Monday said the company had decided not to continue issuing because more attractive sources of funding were available for a larger amount than originally intended. ($ 1 = 0.7322 pounds)
(This story was not edited by Devdiscourse staff and is automatically generated from a syndicated feed.)
The post Motorsports Aston Martin F1 Team Issues Proposed Retail Loan first appeared on monter-une-startup.
