GE Capital has signed an agreement with Jaguar Land Rover to
provide a working capital facility of up to £170 million (€191
million).
The facility, available for a five-year term, will finance
finished vehicle stocks between the points of production and onward
sale to dealers on a revolving basis.
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“This is the first time that we are aware of in Europe, that a
facility has been created to leverage this part of the distribution
cycle and is demonstrative of how our pan-European asset and
structuring expertise can truly benefit our customers,” said Rich
Laxer, EMEA president and CEO, GE Capital.
Ken Gregor, CFO of Jaguar Land Rover, added: “We are pleased
that our funding plans have further progressed and welcome the
confidence shown by GE Capital in the Jaguar Land Rover
business.”
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