Shearman And Sterling

News March 06, 2015

Shearman & Sterling Advises Jaguar Land Rover on Its $500 Million Fixed Rate High Yield Bond Offering

Shearman & Sterling represented Jaguar Land Rover Automotive plc (“Jaguar Land Rover”) on its offering of $500 million fixed rate high yield bonds due 2020. Jaguar Land Rover Automotive plc, an indirectly-owned subsidiary of Indian-owned Tata Motors Limited (India), bought luxury carmakers Jaguar Land Rover Limited and Land Rover in 2008.

The high yield senior notes are unsecured and guaranteed by Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited. Jaguar Land Rover intends to use the proceeds to repurchase certain of its existing notes. Any remaining proceeds will be used for general corporate purposes.

The Shearman & Sterling team of lawyers in the firm’s London and Washington, DC offices included Tax partner Kristen Garry, counsel Simon Letherman, and associates Kammy Lai and Gabriel Ng; Capital Markets associates Kara Major, Gordon Houseman, Elena Dzhurova, and trainee Ricky Chow; and counsel Mehran Massih, who advised on environmental aspects.

This is the eighth such offering for the company. The firm also advised the company on its: