Jaguar Land Rover plc, is raising equivalent of £1 billion through sterling and US dollar denominated Senior Notes, the company said in an announcement on the BSE, on Monday.
The net proceeds from the issuance and sale of the Notes will be used to refinance existing debt and for general corporate purposes. The notes will be guaranteed on an unsecured basis by Jaguar Cars Ltd, Land Rover, Jaguar Land Rover North America LLC, Land Rover Exports Ltd. and Jaguar Cars Exports Ltd., the notice said. Jaguar Land Rover is a wholly owned subsidiary of Tata Motors Ltd.