Aston Martin F1 team owner Lawrence Stroll is raising £ 250 million through a loan to pay for the expansion of his factory.
In September the team officially broke ground for the massive expansion of its existing premises. The new facility will span 37,000 square feet and is expected to cost between £ 150 million and £ 200 million.
The £ 100 fundraising bonds are issued over a five year period and pay a rate of 7%.
Stroll promised that when the work is completed, his team will have “the latest, ultra-modern facility” in early 2023.
Aston Martin’s plans for its Dadford Road facility in Silverstone include the construction of a new wind tunnel and simulator. The existing premises will be expanded by two new buildings.
“I am delighted that we will be issuing a bond through the London Stock Exchange to raise additional funds for the development and construction of our new Formula 1 campus,” said Stroll.
“We are excited about the opportunity to offer investors and especially Formula 1 fans the opportunity to become part of the journey of the Aston Martin Cognizant Formula 1 team and to share in our ultimate ambitions – to achieve world championship successes and the creation of value from The team.”
Aston Martin has also launched an ambitious recruiting campaign. It recently named former McLaren team principal Martin Whitmarsh as Group CEO after attracting several key hires from rival teams.
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