Samvardhana Motherson International Ltd has successfully raised USD 350 million (approximately ₹2,920 Croree) through notes issuance.
The issuance was facilitated by its step-down subsidiary, SMRC Automotive Holdings Netherlands BV (SAHN BV), backed by a corporate guarantee from Samvardhana Motherson International Ltd (SAMIL).
The notes issuance was oversubscribed six times, with an order book peaking at over USD 2.2 billion. This marks Motherson Group’s return to the USD bond market after 8 years. Proceeds from the issuance will be used to repay existing debt, making it debt neutral for the company. The notes will be listed on the Frankfurt Stock Exchange.
Motherson Group’s Vice Chairman, Laksh Vaaman Sehgal, attributed the success of the transaction to the group’s prudent financial policies, recently affirmed by rating upgrades from international agencies.
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