Motherson Sumi’s arm issues 7-year Euro denominated bonds

Motherson Sumi announced that its subsidiary, Samvardhan Motherson Automotive Systems Group B.V. (SMRP BV) 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 fourth successful issue of notes by SMRP BV 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 a publication of the SMRP BV’s credit ratings as BB+ by S&P and Fitch.

The proceeds from 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. The lower pricing of the notes will effectively result in a significant reduction in interest cost for the company.

For Quick Trial – 8962000225 ✔
or mail us here:
or visit
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 ✔
Give a Missed Call for Free Trial - 09699997717 ✔

Share on Google Plus Share on Pinterest

About Suhani Varma

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.