/ Dutch Arm Of Motherson Sumi Plans 500 Million Euros Bond Sale ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 19 June 2017

Motherson Sumi’s Netherlands-based unit plans to sell bonds worth 500 million euros to replace a portion of its existing debt. The auto components major is likely to swap a portion of its existing debt in the form of euro-denominated bonds by issuing a new set of bond, reported a leading news agency.
The bonds will be floated by SMRP BV, a Dutch arm of Motherson Sumi. The company is likely to appoint investment banking firms from HSBC, UBS, Deutsche Bank and Bank of Tokyo Mitsubishi UFJ to manage the sale.
Meanwhile, Motherson Sumi was trading higher by 2.7% at Rs 487.35 per share at 1219 hours IST on BSE. It hit a high of Rs 488.85 and a low of Rs 476.85 so far during the day.
Motherson Sumi Systems Limited is a system solutions provider to automotive and other industries, offering services from design and prototyping to production and delivery of solutions across a range of products.

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