Aston Martin Lagonda has announced it has raised $150 million from a bond issue, with the option to raise an additional $100 million if order targets are reached.

The principal aim is for the luxury car manufacturer to bolster its cash in an uncertain trading environment.

The firm said on Wednesday that the main tranche is made up of 12% notes due in 2022, while the additional notes may be issued under the same terms if permitted, or perhaps issued as unsecured notes with a 15% interest rate, Reuters reports.

According to Chief Financial Officer Mark Wilson, the company forecasts economic headwinds and uncertainty will continue.

“What we have announced today is a cost and time-effective structure that immediately strengthens our liquidity in the short term and the option to draw further funding as we successfully execute the plan,” he stated.

Aston Martin endured a first-half loss in July as sales didn’t reach original expectations.

Shares in the British firm, which listed in London in Autumn 2018 priced at £19, closed at £5.75 on Tuesday.

Aston Martin announced on Wednesday that the DBX, its first sports utility vehicle, remained on track and it was happy with the reception the vehicle received at Monterey Car week in August.

The company announced it anticipated meeting current market consensus expectations for this year, despite ongoing pressure on sales volumes, subject to amendments taking into account the new bonds.

Analysts predict Aston Martin to report net revenue of £1.1 billion and adjusted core earnings of £208 million, as per the findings from a company-compiled consensus dated September 10.

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