Samvardhana Motherson brings high-yield play

Indian auto parts manufacturer brings debut dollar bond as analysts speculate it will use proceeds to buy US company.

Samvardhana Motherson brings high-yield play
Opening up and building out its investor profile

Indian auto parts manufacturer Samvardhana Motherson Autosystems Group BV SMRPBV completed its debut dollar bond overnight on Wednesday, with analysts speculating proceeds will fund a US MA deal.

The Uttar Pradesh-based company has been expanding rapidly in recent years and wants to quadruple revenues by 2020 through a 5050 mix of organic and inorganic growth.

This expansion is highly likely to be funded by increased borrowings given the documentation for...

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