Jaguar Land Rover Is Exploring New High-Yield Bond Sale
- Automaker says it’s monitoring the market on an ongoing basis
- Marks shift from earlier in year when scrapped issuance plans
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Jaguar Land Rover Automotive Plc has this month approached European investors via a bank for a potential new bond financing, according to people familiar with the matter.
Assessing appetite for a high-yield offering marks a shift from earlier in the year when Britain’s biggest automaker said that market conditions weren’t right for it to borrow from the bond market. Since then JLR has delivered its first profit in four quarters and the yield on its 4.5% euro notes due 2026 has narrowed to 6.8% from a record high of 9.4% in February, Bloomberg data show.