Battered Jaguar gets back on road with €800m HY issue

By Karoliina Liimatainen
18 Nov 2019

Struggling car manufacturer Jaguar Land Rover raised €800m from a dual-tranche bond this week, pricing both parts at the tight end of guidance despite an uncertain outlook for the UK auto sector and a deal structure described as "high-yield lite" by one credit analytics company.

Jaguar planned only to launch an unspecified amount of five year senior unsecured notes, but added a seven year tranche on Thursday.

The shorter tranche of €500m was priced at 5.875% after initial price talk in the low 6% area, which was later narrowed to 

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial