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Aston Martin says it is in talks for potential funding to boost liquidity
July 17 (Reuters) - Luxury carmaker Aston Martin said on Friday it has ongoing discussions with potential financing providers, following a media report that it is in talks with lenders including BlackRock-owned HPS Investment Partners.Here are some details:
• The company said it regularly considers its capital structure and strategic options and remains focused on ensuring enough liquidity to support its strategy.
• Shares of London-listed Aston Martin were down 2.3% at 36.2 pence at 15:08 GMT.
• The statement was in response to a Bloomberg News report earlier on Friday that said Aston Martin was in talks with lenders including HPS.
• The report said the proposed financing would be backed by company assets transferred beyond the reach of existing creditors through a "drop-down" transaction.
• HPS did not respond to a Reuters request for comment. It had declined to comment to Bloomberg News.
• The carmaker has been struggling with cash burn and falling sales due to U.S. tariffs and weak demand in China. It posted another quarterly loss in April.
• The same month, Aston Martin had turned to a consortium led by top shareholder Lawrence Stroll for a £50 million ($67.2 million) funding boost to take liquidity at the end of the March quarter to £230 million.
($1 = £0.7446)
(Reporting by Neeshita Beura and Roshni Srivastava in Bengaluru, additional reporting by Nithyashree R B; Editing by Sahal Muhammed)
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