Auto component maker SAMIL raises $350 mn through issuance of notes

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Auto component maker SAMIL raises $350 mn through issuance of notes - Business Standard

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"The fund raised by way of issuance of notes marks return of the Motherson Group after 8 years to USD bond market and first-ever with a dual investment grade rating from two reputed international credit rating agencies -- Moody's and Fitch," SAMIL said.

The notes were issued by the step-down subsidiary, SMRC Automotive Holdings Netherlands BV (SAHN BV) backed by a corporate guarantee from Samvardhana Motherson International Ltd (SAMIL), the company said in a statement.

Auto components maker Samvardhana Motherson International Ltd on Friday said it has raised USD 350 million (around Rs 2,920 crore) through the issuance of notes.