Jaguar Land Rover obtained £500 million worth of commercial funding from a consortium of banks in 2009. As part of this funding package, we advised a leading Indian bank in its negotiations with this motor manufacturer for the provision of a multi-million pound facility.
We advised the bank with regard to the securitisation of the facility and the interaction and working of the different facilities in place. The arrangement ensured that Jaguar Land Rover had the flexibility to continue trading during the difficulties which were being experienced in the motor sector.
Following completion of this facility, we were instructed to advise in relation to further participants, which otherwise would have been in contravention of the pre-existing facility.
The work included in particular advising and negotiating inter-creditor positions, security and foreign jurisdiction issues.