GE Capital has signed an agreement with Jaguar Land Rover, the UK based subsidiary of Indian group Tata Motors, to provide a working capital facility of up to £170 million, available for a five-year term.
The facility represents an innovative structure to finance JLR finished vehicle stocks between the points of production and onward sale to dealers on a revolving basis. Ken Gregor, CFO Jaguar Land Rover, commented: “We are pleased that our funding plans have further progressed and welcome the confidence shown by GE Capital in the Jaguar Land Rover business.”
GE Capital is one of the region’s leading financial institutions – providing secured finance facilities to support small and mid-market customers throughout EMEA. As a committed pan-European lender, GE Capital leverages GE’s 130+ year industrial heritage, to provide customers with a range of services, including asset-based lending, inventory finance, accounts receivable management, leasing, fleet services and corporate lending.
“Today’s deal is further evidence of our commitment to supporting important industries in the UK and Europe and finding funding solutions that are tailored to companies’ asset portfolio,” said Rich Laxer, EMEA President & CEO, GE Capital. “This is the first time that we are aware of in Europe, that a facility has been created to leverage this part of the distribution cycle and is demonstrative of how our pan-European asset and structuring expertise can truly benefit our customers.”