London: Citi, together with a syndicate of international banks, completed a £625 million term loan facility with Jaguar Land Rover Automotive plc in October this year. The facility is backed by a £500 million guarantee from UK Export Finance under its new General Export Facility programme (GEF).
The loan will amortize over 5 years and support Jaguar Land Rover’s business as the largest automotive exporter in the UK, including investment in the research and development of next-generation electric vehicles and future mobility solutions.
“We are pleased to have been able to support Jaguar Land Rover in successfully concluding this first of its kind UKEF General Export Facility,” said Alex Taylor, EMEA Head of Export and Agency Finance, Treasury and Trade Solutions, Citi.
Citi acted as Coordinator and Facility Agent.
Mandated Lead Arrangers and Lenders were Barclays Bank plc, Citi, HSBC Bank plc, J.P. Morgan, National Westminster Bank plc and Standard Chartered Bank.
About Citi Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) can help to enable our clients’ success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the one of the industry’s largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to be a leader in offering one of the industry’s most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.