Hogan Lovells, Linklaters and Withers have secured lead roles on a financing plan for Jaguar Land Rover worth in excess of £500m. The transaction will harmonise the terms of separate facilities provided to Land Rover and Jaguar Cars.
Withers acted for a consortium of banks featuring State Bank of India, Bank of Baroda and Bank of India on a £370m guarantee facility and on a separate £175m loan from State Bank of India.
Banking partner David Dannreuther led a multi-jurisdictional team that also included lawyers from Withers Bergman in the US. Property partner Paul Brecknell acted on the property aspects of the deal.
Dannreuther earlier this year acted for State Bank of India and Bank of Baroda on a £360m guarantee facility for an European Investment Bank (EIB) loan to Jaguar Land Rover.
Hogan Lovells acted for Jaguar Land Rover, with a multi-jurisdictional team led by finance partner Andrew Taylor.
The deal featured an additional loan from Standard Chartered bank, which turned to Linklaters banking partner Philip Spittal for advice.
Dannreuther commented: “The renewed loan and guarantee facilities will help an iconic brand survive through difficult economic times as well as meet market demands for a greener transport system. We’re excited to be part of that process.”