Shearman & Sterling has advised Jaguar Land Rover Automotive plc on its offering of £400 million fixed rate high yield bonds, due 2022. The high yield senior notes are unsecured and guaranteed by Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited. Jaguar Land Rover Automotive plc intends to use the proceeds to repurchase certain of their existing notes. Any remaining proceeds will be used for general corporate purposes.

Jaguar Land Rover Automotive plc, an indirectly-owned subsidiary of Indian-owned Tata Motors Limited (India), bought luxury carmakers Jaguar Land Rover Limited (formerly Jaguar Cars Limited) and Land Rover in 2008.

This is the fifth such offering for the company. The firm also advised the company on its £1 billion equivalent fixed rate high yield bond offering in May 2011, its £500 million fixed rate high yield bond offering in March 2012, its US$500 million fixed rate high yield bond offering in January 2013, and its US$700 million fixed rate high yield bond offering in December 2013.

The Team