Motherson Sumi Systems’ subsidiary Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP BV) has priced its new 300 million euro 7-year (due July 2024) non-call life senior secured Notes offering 1.800% (at 140 bps over mid swaps). 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 publication of the SMRP BV’s credit ratings as BB+ (positive outlook) by S&P and Fitch.
Motherson Sumi Systems, including its subsidiaries and JVs is one of the leading manufacturer of automotive wiring harnesses, mirrors for passenger cars and a leading supplier of plastic components and modules to the automotive industry.
