/ Motherson Sumi’s Announce 7-Year Euro Denominated Bonds ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 30 June 2017


Samvardhan Motherson Automotive System Group B.V. (SMRP BV) is a subsidiary of Motherson Sumi has issued 300 million Euro bonds, which are due by July 2024, non-call life senior secured notes offering 1.8% on Friday.

This is the 3rd offering in the European market and 4th successful issue of notes by SMRP BV, which is the lowest yield long tenor corporate bond to date from an Indian private sector corporation.
BBB- and BB+ are rated by Fitch and S&P following a publication of the SMRP BV’s credit rating as BB+ by S&P and Fitch.

The issuance along with 200 million euro of the cash balance of SMRP BV will be used to refinance existing 4.125% EUR 2021 notes and the low pricing of the notes will effectively result in a significant reduction in interest cost for the company. The company was traded on the counter of 475598 (NSE+BSE) and had a current market cap of the company Is Rs 64141.76cr.

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