Jaguar Land Rover funding requirements
August 11th, 2009 - 9:23 pm ICT by IBNSMumbai / Kolkata, Aug 11 (IBNS) Tata Motors and Jaguar Land Rover have been in discussions with commercial banks for Jaguar Land Rover funding facilities, many of which have been successfully concluded in the last few months and the balance is expected to be completed in the coming weeks.
Tata Motors and Jaguar Land Rover also expect that the long term loan from the European Investment Bank (EIB) of Pound 340 million, sanctioned to Jaguar Land Rover, can also be successfully secured in the coming weeks through appropriate commercial arrangements, said a Tata release.
With the positive trend in the external environment in financial markets and improvement in general liquidity, these arrangements have been and are expected to be concluded without necessitating guarantees from the UK Government, for which discussions had been ongoing for some time.
Tata Motors is India’s largest automobile company, with consolidated revenues of Rs.70,938.85 crores ($ 14 billion) in 2008-09. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.
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Tags: associate companies, automobile company, british brands, commercial banks, consolidated revenues, eib, european investment bank, external environment, financial markets, guarantees, ibns, jaguar, kolkata, land rover, liquidity, south korea, subsidiaries, tata motors, term loan, uk government