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

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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