India’s Motherson joins car parts drive to bond market

By Olivier Holmey
26 Jun 2014

Samvardhana Motherson Automotive Systems, the Indian car parts maker, priced a €500m bond at 4.125% on Thursday to refinance outstanding loans.

The seven year notes are Motherson’s debut in high yield, as the company adopts a strategy already seen among other makers of car parts to shift debt from loans to bonds.

Schaeffler, the German ball-bearing maker, was one of the first companies in this sector to do so, ...

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