Full carton for Jaguar Land Rover on the primary market. The British automaker has just raised $ 700 million through a new five-year bond issue. This is 200 million more than the amount originally planned.
The iconic British group, owned by the Indian Tata Motors, however paid the price by offering a coupon of 7.75%, the highest in the history of the company, according to Bloomberg. Compensation in line with the "B" ("High yield") rating at Standard & Poor's. That did not prevent investors from attending, according to a spokesperson for the manufacturer.
In the secondary market, investor interest seems to be confirmed, as illustrated by positive (rising) prices. The Jaguar Land Rover Automotive Plc 7.75% 10/15/2025 dollar bond thus trades at 101.62% of the par, corresponding to a yield of 7.36%.
The bond is housed within Jaguar Land Rover Automotive Plc, the holding company that owns the Jaguar Land Rover business. The latter designs, develops, manufactures and sells high-end Jaguar sports sedans, luxury sports cars and SUVs and high-end Land Rover all-terrain vehicles, as well as associated parts and accessories and related activities. .
Jaguar prides itself on being the very first brand to offer a premium all-electric SUV, the Jaguar I-PACE.
British roots, global presence
The group is the result of the merger in 2013 of two British brands Jaguar and Land Rover. A marriage carried out with the blessing of Tata Motors, the largest Indian car manufacturer, owner of both brands since 2008.
Today, Jaguar Land Rover employs around 38,000 people worldwide, with vehicle assembly plants in the UK, China, Brazil, India, Austria and Slovakia. It also has two large design and engineering sites, an engine manufacturing center and soon a battery assembly center.
The group employs 260,000 additional people through its network of retailers, suppliers and local businesses.
In its 2019/2020 fiscal year (closed March 31), the company sold nearly 509,000 vehicles in 127 countries for revenues of £ 23 billion (around € 25.5 billion) .