Thursday, July 18, 2024
HomeLaw firmsDeals and TransactionsKhaitanCo Advises Leading Banks on Motherson Group's $350 Million Bond Issuance

KhaitanCo Advises Leading Banks on Motherson Group’s $350 Million Bond Issuance

Khaitan & Co advised BNP Paribas, Citi, HSBC, J.P. Morgan, MUFG, DBS Bank, and Standard Chartered on the issuance of $350 million senior secured guaranteed investment grade bonds by Motherson Group under the U.S. Securities Act of 1933

The transaction was managed by Manisha Shroff, Mohit Nad, Rajshekhar Upadhyaya, Chirag Gohil, Akshansh Sharma, Aparna Arya, and Nikunj Mehta, with support from Sharad Abhyankar (Corporate Governance) and Ritu Shaktawat (Tax).

The bonds were sold by a subsidiary, SMRC Automotive Holdings Netherlands, and are priced at 140 basis points above the five-year US treasury, currently trading at about 4.30%. After taking into account the costs, the bond was priced at a yield of 5.72%.

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