Jaguar Land Rover boosts support for TML bullet

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By Virginia Furness
30 Apr 2014

Tata Motors priced a $300m seven year bullet through its subsidiary TML Holdings on Wednesday. The borrowing entity's ownership of Jaguar Land Rover Automotive was seen as bolstering investor support for the credit, enabling the issuer to come tight with what was its first dollar deal.

Before the deal was priced, a senior fixed income manager had said that it would be able to price quite low because of its association with the Jaguar Land Rover name, helping to offset concerns. “The parent company is not rated, it’s got a lot of debt and doesn’t ...

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