Jaguar drives by for £400m

By Stefanie Linhardt
31 Jan 2014

Jaguar Land Rover drove by with an increased high yield bond on Tuesday. It attracted strong demand, allowing bookrunners to add £100m to the planned £300m eight year issue and price it tightly.

The unsecured, non-callable 2022 bond was priced in line with guidance in the 5% area at par to yield 5%. The notes had widened by Thursday to around 99.75, reflecting a “tightly priced deal,” said a banker close to the deal.

Deutsche Bank (billing and delivering), Bank of ...

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