Jaguar Land Rover plans to offer €150 million of notes maturing 2026

By Rebecca Melvin

New York, Dec. 17 – Jaguar Land Rover Automotive plc expects offer a €150 million add-on to its 6 7/8% notes due 2026, according to a stabilization notice.

Jaguar offered €300 million and €500 million of notes in November.

Proceeds are expected to be used to bolster liquidity.

The stabilization managers are J.P. Morgan Securities plc, Citigroup, Goldman Sachs, ANZ, Barclays, BNP Paribas, Credit Agricole, DBS, HSBC, Mizuho, NatWest and Standard Chartered.

The stabilization period was expected to start on Tuesday and end no later than Jan. 17.

The stabilization managers have a 5% over-allotment option related to the issue.

The prospective issuer is the Coventry, U.K.-based holding company for carmaker Jaguar Land Rover Ltd., a subsidiary of Indian automotive company Tata Motors.

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