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Bond Market News
JLR’s Dollar Bonds Trade Lower on Shipment Pause Amid Tariff Measures
April 7, 2025
Dollar bonds of Jaguar Land Rover (JLR) were down by over 1-1.8 points, affected by the latest 25% tariff imposition on car imports. JLR announced it will pause all shipments to the US as it aims to find ways to address the new terms of trade. US is the second biggest export market after the EU, for UK-based car makers. In a statement, a JLR spokesperson said that they were “taking some short-term actions including a shipment pause in April”, as they develop their mid to longer-term plans. In related news, Japanese car maker Nissan is said to be considering whether it should move some of its production of US-bound vehicles from Japan to the US as early as this summer.
JLR’s 5.875% 2028s were down 1.8 points to 96.74, yielding 7.19%.
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