Shearman & Sterling represented Jaguar Land Rover PLC on its offering of £500 million fixed rate high yield bonds due 2020. Jaguar Land Rover PLC, an indirectly-owned subsidiary of Indian-owned Tata Motors Limited (India), bought luxury carmakers Jaguar Cars Limited and Land Rover in 2008.

The high yield senior notes are unsecured and guaranteed by Jaguar Cars Limited, Land Rover, Jaguar Land Rover North America, LLC, Land Rover Exports Limited and Jaguar Cars Exports Limited.

The company will use the proceeds of the bond sale for general corporate purposes.

The Shearman & Sterling team included partner Apostolos Gkoutzinis (London-Capital Markets), counsel Rebecca Marques (London-Capital Markets), and associates Randy Nahle (London-Capital Markets), Jason Banks (London-Capital Markets) and Kara Major (London-Capital Markets). Partner Craig Gibian (Washington, DC-Tax), counsel Simon Letherman (London-Tax) and associates James Leslie (London-Tax) and Mary Jo Lang (Washington, DC-Tax) advised on the tax aspects of the transaction.

This offering is the second such offering for the company. The firm also advised Jaguar Land Rover PLC on its earlier £1 billion equivalent fixed rate high yield bond offering in May 2011.