JLR looks at financing options following shock $4 billion write-down

Tata Motors' arm says conditions not right to tap bond market; may turn to other bank financing

Jaguar Land Rover, reeling from a $4 billion writedown, a slump in China sales and uncertainty around Brexit, said conditions aren’t right for it to borrow from the bond market and that it’s seeking alternative funding.

The luxury automaker needs to raise $1 billion within 14 months to replace maturing bonds, while feeding an investment program for electric cars that’s burning through cash. 

To support its needs, JLR could increase a receivables facility or turn to other bank financing, with further options including leasing assets and tapping export credit, said Treasurer Ben Birgbauer in an interview.

JLR’s owner Tata Motors shocked investors on