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Tatas seek $3 billion loans for Jaguar, Land Rover buy: report

Tatas seek $3 billion loans for Jaguar, Land Rover buy: report
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First Published: Thu, Mar 06 2008. 11 03 AM IST
Updated: Thu, Mar 06 2008. 11 03 AM IST
Reuters
Singapore: Tata Motors is seeking about $3 billion in loans to fund its planned purchase of Ford Motor Co’s Jaguar and Land Rover luxury brands, the Financial Times reported on 6 March 2008.
Tata has assigned its advisers, Citigroup and JPMorgan, to arrange the financing with a number of other international and domestic banks, the FT said, quoting people familiar with the matter.
The loan, expected to be mostly short-term bridge financing, is larger than the expected purchase price, estimated at around $2 billion.
A person familiar with the deal said part of the loan could be used for working capital, the newspaper reported.
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First Published: Thu, Mar 06 2008. 11 03 AM IST