Milbank in Driving Seat for Jaguar Land Rover €800M Bond Issue
The firm's London office has previously acted for the company.
November 27, 2019 at 05:12 AM
2 minute read
Jaguar Steering Wheel
Milbank is advising on a €500 million and €300 million senior notes offering from British car giant Jaguar Land Rover Automotive.
The €500 million offering is due in 2024 while the €300 million offering is due in 2026, with proceeds being used for "general corporate purposes".
Milbank acted for the automotive company after previously acting for Jaguar Land Rover's note issuances. The team was led by London-based leveraged finance and capital markets partner Apostolos Gkoutzinis, who joined the firm from Shearman & Sterling in January 2018.
Milbank advised Jaguar in September last year in relation to €500 million senior notes.
Sullivan & Cromwell advised the underwriters.
Jaguar Land Rover is known for designing, developing, manufacturing and selling Jaguar premium sports saloons and sports cars, among other things. The company will expand its portfolio to include electrified products across its model range from 2020.
The notes were expected to be issued on or around November 26, 2019, according to a statement by the company.
Earlier this year, Milbank's London revenues rose 25% and the firm is also set to move into a larger London office in 2021, following a period of expansion.
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