Jaguar Land Rover raises $705 million loan from Chinese banks

SHANGHAI (Reuters) - Jaguar Land Rover (JLR), owned by India's Tata Motors , has entered into agreements with lenders in China for a secured term loan facility of 5 billion yuan (556.58 million pounds), marking its first debt financing in China, it said. Arthur Yu, JLR's vice president and China chief financial officer, said the Chinese banks that would provide it with the three-year revolving loan include Bank of China , ICBC , China Construction Bank , Bank of Communications and Shanghai..