Jaguar Land Rover selling $500 million five-year bullet notes Tuesday

By Paul A. Harris

Portland, Ore., March 3 – Jaguar Land Rover Automotive plc plans to price $500 million of non-callable five-year senior notes (expected ratings Ba2/BB) on Tuesday, according to a market source.

An investor call is set for 11:30 a.m. ET Tuesday morning.

Early yield guidance from the dealer is 3¾%, according to a trader.

J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup Global Markets, Credit Suisse Securities LLC and Morgan Stanley & Co. are the joint physical bookrunners for the Rule 144A and Regulation S for life offering.

ANZ, Barclays, HSBC, Standard Chartered Bank and UBS are the co-managers.

The Coventry, England-based automaker plans to use the proceeds to fund the tender offer for its 8 1/8% senior notes due 2018.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.