Samvardhana Motherson’s Dutch subsidiary to raise capital via debt issuance
SMRC Automotive Holdings Netherlands plans to issue senior secured notes denominated in US dollars, for which Samvardhana Motherson will provide an unconditional and irrevocable corporate guarantee.
Samvardhana Motherson International Ltd said its step-down subsidiary SMRC Automotive Holdings Netherlands B.V., plans to raise capital by issuing senior secured notes denominated in US dollars.
SMRC Automotive offers interior components to global automotive manufacturers. Its products include instrument panels, door panels, console modules, decorative parts and cockpit modules.
Samvardhana Motherson will provide an unconditional and irrevocable corporate guarantee on behalf of SMRC Automotive for guaranteeing the notes, the company said in an exchange filing on Wednesday.
The auto component maker did not provide any additional details regarding the note issuance.
SMRC was earlier known as Reydel Automotive Group, which Samvardhana Motherson Group acquired in 2018.
In May, Samvardhana Motherson International’s management said it would invest Rs 5,000 crore in capital expenditure for various initiatives, including the setting up greenfield facilities for the current financial year. Last year, the company’s capital expenditure stood at Rs 4,000 crore and a large part of this capex was spent in emerging economies across auto and non-auto businesses. ENDS
RELATED ARTICLES
Gulf Oil Relaunches Gulf Pride Engine Oil with New Formula and Packaging
Gulf Oil Lubricants India Limited updates its Gulf Pride engine oil with new packaging and an enhanced formula, supporte...
Mahindra Tractors Flags Off 'Ashwamedh' Initiative Under 'Rag Rag Laal Hai' Campaign
Mahindra Tractors begins a 45-day nationwide journey under the ‘Rag Rag Laal Hai’ campaign, engaging with farmers and vi...
Marelli Unveils Platform Approach at Auto Shanghai 2025
New hardware development strategy aims to accelerate product development and market delivery for automakers.