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JLR in Talks for £2bn 18-Month Emergency Facility from Global Banks amid Shutdown
September 30, 2025
Jaguar Land Rover (JLR) is said to be in talks for a £2bn ($2.7bn) emergency funding from a handful of global banks, following the cyberattack induced shutdown which has lasted for nearly a month. Sources believe that the automotive company is considering an 18-month facility at a rate of SOFR+110bp, with banks such as Citigroup, MUFJ Financial Group and StanChart involved in the potential transaction. The sources added that the debt may be syndicated to more banks later, further easing any financial strain on the company. This adds to the update received over the weekend where the UK government agreed to back JLR with a £1.5bn ($2bn) loan guarantee to help support the company’s supply chain (particularly benefitting smaller suppliers). Last week, JLR said that some of its systems were back online and that they aim to restart some manufacturing operations from October 1.
Following the cyberattack led shutdown, Moody’s has cut both, JLR and its parent Tata Motors’ outlook to negative from positive. JLR’s bonds were trading higher by 0.6 points with its 5.5% 2029s at 100.2, yielding 5.2%.
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