GE Capital to Provide Up to £170m to Jaguar Land Rover
16 November 2009
GE Capital signed an agreement with Jaguar Land Rover (JLR), the UK-based subsidiary of Indian group Tata Motors, to provide a working capital facility of up to £170 million (US$286 million), available for a five-year term.
The facility represents an innovative structure to finance JLR finished vehicle stocks between the points of production and onward sale to dealers on a revolving basis.
This is the first time that we are aware of in Europe, that a facility has been created to leverage this part of the distribution cycle and is demonstrative of how our pan-European asset and structuring expertise can truly benefit our customers.
—Rich Laxer, EMEA President & CEO, GE Capital
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