Samvardhana Motherson Automotive Systems Group B.V. ‘s €300 Million Notes Offering

Von Wobeser y Sierra, Allen & Overy and Chrysses Demetriades & Co advised on the transaction

Samvardhana Motherson Automotive Systems Group B.V. (the Company) is pleased to announce the pricing of its new €300 million 7-year (due July 2024) non-call life senior secured Notes offering 1.800% (at 140bps over mid swaps). This is the fourth successful issue of Notes by the Company and third offering in the European markets.

This is also the lowest yield long tenor corporate bond to date from an Indian private sector corporate.

The Notes have been rated BBB by Fitch and BB+ by S&P following publication of the company’s credit ratings as BB+ (positive outlook) by S&P and Fitch.

Barclays, BNP Paribas , Deutsche Bank and HSBC acted as Joint Global Coordinators while Barclays, BNP Paribas, Deutsche Bank,HSBC, ANZ, MUFG, Standard Chartered Bank, SBI Caps, UBS, UniCredit Bank acted as Joint Bookrunners to the offering.

Von Wobeser y Sierra advised Samvardhana Motherson Automotive Systems Group B.V. with Rupert Hüttler, Luis Burgueño and Alberto Córdoba.

Allen & Overy advised Barclays, Bnp Paribas, Deutsche Bank, HSBC, ANZ, MUFG, SBICAP, Standard Chartered Bank, UBS and UniCredit Bank with Amit Singh (Picture).

Chrysses Demetriades & Co LLC advised the underwriters with Demosthenes Mavrellis and Amanda Alonefti.

 

Involved fees earner: Demosthenes Mavrellis – Chrysses Demetriades & Co; Rupert Hüttler – Von Wobeser y Sierra SC; Luis Burgueño – Von Wobeser y Sierra SC; Alberto Córdoba – Von Wobeser y Sierra SC; Amit Singh – Allen & Overy;

Law Firms: Chrysses Demetriades & Co; Von Wobeser y Sierra SC; Allen & Overy;

Clients: Barclays Bank; BNP Paribas; Deutsche Bank; HSBC; Standard Chartered Bank; UBS; UniCredit Bank AG; Mitsubishi UFJ Financial Group; Samvardhana Motherson Automotive Systems Group B.V.; ANZ Banking Group; SBICAP Securities, Ltd.;

 

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Author: Ambrogio Visconti.