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Bond Market News
JLR Calls Off Planned Dollar Bond Issuance
March 17, 2026
Jaguar Land Rover (JLR) decided to call off its planned dollar bond issuance citing market volatility amid the Middle East war. A spokesperson said that they will continue to monitor market conditions for a potential deal. JLR had initially planned to issue a 3Y and 5Y bond amid the deluge of deals last week. The prior week saw a massive $114.9bn in new deals by investment grade issuers, just falling short of the record weekly high of $117bn notched in 2020. JLR last issued dollar bonds in 2021, raising over $1bn via a two-tranche USD and EUR-denominated deal.
JLR’s dollar bonds were trading with a positive bias – its 5.875% 2028s were higher by 0.7 points at 99.7, yielding 6%.
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