Aston Martin is currently in discussions with bankers regarding the management of its substantial £1.1bn debt burden, confirmed Lawrence Stroll, the company’s executive chairman.

In an interview with Bloomberg Television, Stroll stated, “We are currently in deliberation with our bankers to determine the most appropriate course of action.”

He added, “Naturally, we will approach this matter in the most suitable manner possible, prioritising the best interests of the company and its shareholders.”

The luxury car manufacturer has long been seeking to transition towards more sustainable practices after facing challenges following its underwhelming public listing in 2018 and ongoing struggles with debt. It has secured funding from investors on multiple occasions, including through a £216m share placement scheme in August.

Discussions are expected to centre around a $1.1bn (£870m) bond set to mature in November next year, as reported by Bloomberg, with the company facing annual payments of $120m (£95m).

According to data compiled by Bloomberg, Aston Martin also has a revolving credit facility of £79m due for repayment next year, along with a $121m (£96m) note.

These discussions follow a year of mixed fortunes for the iconic brand, which experienced a surge in the first half, reaching the ranks of the FTSE 250, before encountering setbacks after announcing production issues with its new DB12 model.

Under the leadership of Lawrence Stroll, Aston Martin has attracted a series of new investors, including the Chinese automaker Geely and Saudi Arabia’s Public Investment Fund (PIF).

A key component of the brand’s strategy involves substantial investment in electrification, with plans including a £2bn initiative over the next five years aimed at achieving the milestone of producing its first electric vehicle by 2025.