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New bonds:
$137m per annum in interest
old bonds:
1.184 billion at 10.5% = $124.32 million $
121,660,456 at 15.0% = $18.249 million
Total $142.569m per annum
Saving $5.5 million per year. The old bond term was Nov 2025 and the new March 2029, i.e. 3 years and 5 months. Saving $19 million in interest, but how much will it cost?
AML have extended revolving credit from £70m to £170m, so £100m EXTRA in debt.
AML have also said cash will be used to fund this bond refinancing, how much?
When cash levels sink, when is the next CASH RAISE? AML are losing c.250m per year.
So OVERALL, AML are in a worse position with debt than they were.
I told you, fees from banks to set this ups are exorbitant, and make are much more than any savings AML make.
New bonds:
$137m per annum in interest
old bonds:
1.184 billion at 10.5% = $124.32 million $
121,660,456 at 15.0% = $18.249 million
Total $142.569m per annum
Saving $5.5 million per year. The old bond term was Nov 2025 and the new March 2029, i.e. 3 years and 5 months. Saving $19 million in interest, but how much will it cost?
AML have extended revolving credit from £70m to £170m, so £100m EXTRA in debt.
AML have also said cash will be used to fund this bond refinancing, how much?
When cash levels sink, when is the next CASH RAISE? AML are losing c.250m per year.
So OVERALL, AML are in a worse position with debt than they were.
I told you, fees from banks to set this ups are exorbitant, and make are much more than any savings AML make.
JWBellamy
Posted in: QBT
Posts: 844
Price: 1.375
No Opinion
RE: Funded till revenue so read it and weep BobSucksToday 14:29
You guys will do well to keep eyeballs on Aston Martin, they’ve just had a major credit upgrade at S&P. Shares starting to rally off lows
JWBellamy
Posted in: HE1
Posts: 844
Price: 1.25
No Opinion
RE: Sweet Spot - Time to buy moreToday 14:28
You guys will do well to keep eyeballs on Aston Martin, they’ve just had a major credit upgrade at S&P. Shares starting to rally off lows
Https://www.ft.com/content/74713a22-f557-43d3-8952-645de8211ee7
Do you honestly think a sociopathic millionaire watching Lance write off a car under no pressure in AML colours is going to go out and buy a Vantage because the safety car is also AML?
You’re as deluded as Stroll senior.
What happens if Lucid goes bust? More bad news for AML, after throwing all their eggs in that particular basket.
"In total, the stock has lost about three quarters of its value since listing in 2021, though this is a smaller fall than for many other EV start-ups, some of which have gone bust. "
AML007 must be close to your average now, huh?
https://www.ft.com/content/356479d2-f08b-4ab1-9233-3a2bc49596ff
Lucid in real trouble now, sound familiar?
The boss of Lucid Motors said the US electric car start-up must not rely on the “bottomless wealth” of its Saudi Arabian backer as it looks to raise funds over the coming year.
Peter Rawlinson said the company, which is 60 per cent owned by Saudi Arabia’s Public Investment Fund, was “looking at every aspect of cost” as it battles to reduce spending and raise output of its luxury electric cars at its factory in Arizona.
While the business had enough money to last into 2025, he said, it would need to raise funds again. Lucid had $4.78bn of cash at the end of 2023, and is burning “around $1bn a quarter”.