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Jaguar Land Rover to raise 400 million Dollars through bonds

January 24, 2013, 05:21 PM IST by Pratheek Kunder
Jaguar Land Rover to raise 400 million Dollars through bonds

Jaguar Land Rover is planning to raise 400 million USD (Rs 2100 crore) by issuing bonds to public in a bid support its future growth plans and its operational costs.However, this isn’t the first time the company is raising funds through bonds. Last year, it had raised 500 million GBP (around Rs 4,000 crore) through issue of bonds. In 2011, the company took the same path to raise over one billion GBP (Rs 7300 crore) to finance its debt.

 “Jaguar Land Rover Automotive, the parent company of the Jaguar Land Rover group of companies and a subsidiary of Tata Motors, announces the offer of $400 million Senior Notes which will be due in 2023. It will be guaranteed on a senior unsecured basis by Land Rover, Jaguar Land Rover, Jaguar Land Rover North America, Land Rover Exports and Jaguar Land Rover Exports,” said a statement from the British automaker.

"The net proceeds from the issuance and sale of the notes will be used for general corporate purposes, including to support Jaguar Land Rover's ongoing growth and capital spending plans” the statement added. However, the area where the company is planning to spend was not disclosed. 

 

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