Shearman & Sterling represented Jaguar Land Rover in connection with the solicitation of consents from holders of its $500 million, 5.625% notes due 2023; $700 million, 4.125% notes due 2018; and £400 million, 5.000% notes due 2022 to certain key amendments to the indentures governing those notes.

The amendments will provide Jaguar Land Rover with similar operational and financial flexibility as provided for in its most recent indentures entered into in October 2014, February 2015, March 2015 and January 2017. This will ensure that Jaguar Land Rover’s obligations across all of its indentures are uniform, thereby reducing administrative complexity and simplifying compliance and governance. The supplemental indentures providing for the amendments were entered into on March 9, 2017 after receipt of the requisite consents, and the consent solicitations settled on March 14, 2017.

The firm has also advised Jaguar Land Rover on all of its bond offerings: £1 billion equivalent fixed-rate high yield bond offering in May 2011; £500 million fixed-rate high yield bond offering in March 2012; $500 million fixed-rate high yield bond offering in January 2013; $700 million fixed-rate high yield bond offering in December 2013; £400 million fixed-rate high yield bond offering in January 2014; $500 million fixed-rate high yield bond offering in October 2014; £400 million fixed-rate high yield bond offering in February 2015; $500 million fixed-rate high yield bond offering in March 2015; €650 million fixed-rate high yield bond offering in January 2017 and £300 million fixed-rate high yield bond offering in January 2017.

The Team