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Land Rover wins debt lifeline

Jaguar Land Rover (JLR) has secured a &pound;75m finance lifeline by mortgaging its stock of Land Rover parts.<br />Burdale Financial, Bank of Ireland&rsquo;s finance division, has granted a three-year debt facility of up to &pound;75m to the carmaker, which is owned by Tata Motors, of India.<br />The loan is secured on the inventory of Land Rover&rsquo;s parts and accessories businesses in the UK and US, as well as its receivables. <br />Tata has been looking to refinance since taking out a $3bn (&pound;1.8bn) loan to buy JLR from Ford last year.