Samvardhana Motherson International Limited raises USD 350 million at a coupon of 5.625% per annum
The Notes are rated BBB- by Fitch Ratings and Baa3 by Moody’s rating.
Samvardhana Motherson International Limited, the auto parts manufacturer, has approved the pricing, tenure and other terms of issuance of US dollar denominated senior, secured, guaranteed notes aggregating to USD 350 million, at a coupon of 5.625% per annum.
Interest on the Notes will be paid semi-annually in arrears on 11 January and 11 July of each year, commencing on 11 January 2025.
These will be issued by the issuer SMRC Automotive Holdings Netherlands.
The Notes are being offered or sold only to qualified institutional buyers in accordance with Rule 144A under theU.S. Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in offshore transactions in reliance on Regulation S under the Securities Act.
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04 Jul 2024
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Autocar Professional Bureau
Angitha Suresh