U.K. luxury carmaker, Jaguar Land Rover, is seeking to raise around £1 billion through a bond sale, Financial Times reports. The company seeks to issue £500 million and £244.3 million of bonds, due in 2018, and a further £244.3 million of securities due in 2021. The sale will be in sterling and dollars.
Citigroup, Credit Suisse, JPMorgan and Standard Chartered will manage the sale. Jaguar Land Rover is planning to spend £5 billion on product development and new equipment at its three U.K. plants and to cover new investments at a planned factory in China.
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