A five-year working capital facility of up to
£170 million has been agreed by car manufacturer Jaguar Land Rover
and specialist business finance provider GE Capital.

The funding will be used by the Tata Motors-owned
carmaker to finance “finished vehicle stocks between the points of
production and onward sale to dealers on a revolving basis”, GE
Capital explained.

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Jaguar Land Rover’s CFO, Ken Gregor, said the
funding agreement underlined the “confidence” GE Capital has in the
future of the car manufacturer’s business.

“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,” said Rich Laxer, president and CEO, EMEA
at GE Capital.

“Today’s [November 16] deal is further evidence of
our commitment to supporting important industries in the UK and
Europe and finding funding solutions that are tailored to
companies’ asset portfolio,” he added.

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