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Tata Motors Attempts to Secure $4.5bn Loan for Iveco Acquisition
September 11, 2025
Tata Motors is said to be raising €3.875bn ($4.5bn) via a bridge loan to fund its acquisition of Iveco Group’s commercial vehicle business, which would possibly be one of Asia’s largest M&A loans this year, as per sources. The 12-month facility, underwritten by Morgan Stanley and Mitsubishi UFG, carries an interest rate of Euribor+102.5bp and is backed by a letter of support from its parent, Tata Sons. Iveco, the Italian truck maker, is selling its defence unit to Leonardo SpA and the rest to Tata Motors in a deal totalling €5.5bn. The bridge loan will be refinanced through a mix of equity and longer-term debt in the next 12-18 months. The deal is expected to close by April 2026 after regulatory approvals. The acquisition marks Tata Motors’ most significant European expansion since its 2008 purchase of Jaguar Land Rover (JLR), giving it a stronger foothold in Europe’s commercial vehicle market.
TML Holdings’ 4.35% 2026s were trading stable at 99.6 cents on the dollar, yielding 4.9%.
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