Jaguar Land Rover launches upsized €650 million seven-year notes at par to yield 2.2%.

By Paul A. Harris

Portland, Ore., Jan. 12 – Jaguar Land Rover Automotive plc launched an upsized €650 million offering of seven-year senior notes (Ba1/BB+) on Thursday, according to market sources.

The deal, which is upsized from €500 million, is playing to €4 billion of orders and launched at par to yield 2.2%.

Earlier guidance was 2½%.

Goldman Sachs International, BNP Paribas, Credit Agricole CIB, Deutsche Bank, SG CIB, ING, Lloyds Bank, Mizuho Securities, NatWest Markets and UniCredit are the joint bookrunners for the Rule 144A and Regulation S offering.

Coventry, England-based Jaguar Land Rover is an automotive company that is a subsidiary of Tata Motors.

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