Spyker, the Dutch automaker best known for its quirky sports cars, is introducing an even more radical concept: they are now allowing investors to buy bonds that can be traded in for a Spyker B6 Venator.
Thanks to a CNNMoney report from March 3, we have learned that Spyker will issue 100 bonds, priced at £100,000 (approx. $167,000) apiece. Each customer will receive a “specific chassis identification number corresponding to a car to be built later.”
Yes, you’ve read that right. Spyker has not yet built their line of Venators, much less unveiled the production car. The only version of the Venator to be seen by the public is the concept version that debuted one year ago at the 2013 Geneva Motor Show(pictured above and below).
The Venator will sport an aluminum chassis and a carbon fiber body. Power will be delegated to the rear wheels from a mid-mounted V6 engine. Spyker intends the Venator to be a more affordable option in the Spyker family. Currently, the company’s only other production car, the C8 Aileron, can be bought for $250,000.
With the expected £10 million in bond money, Spyker will use the proceeds to increase manufacturing to meet the “unexpectedly high” demand for the Venator. Because Spyker has never offered bonds before, neither Moody’s nor Standard & Poors have been able to issue credit ratings on them.
But we do know this: the bond has a term of four years, but is redeemable in three. Bondholders will be able to receive a special edition Venator, which will be worth at least £125,000. Or, if they prefer, they can opt for equity, if Spyker offers publicly traded stock before the bonds expire. And if those two options don’t look good, then there’s opting for cold, hard cash.
(Source: CNN Money)