Government supports Jaguar Land Rover through provision of a guarantee for a commercial loan

The UK Government has instructed UK Export Finance to back Jaguar Land Rover with a guarantee for a commercial loan to help manage the impact of a recent cyber-attack.

Letter from UKEF CEO Tim Reid to the Secretary of State setting out his position as Accounting Officer for UKEF

Letter from the Secretary of State to UKEF CEO Tim Reid acknowledging his position and setting out his direction for UKEF to provide a guarantee to Jaguar Land Rover

Details

The attached letters outline that the Secretary of State instructed UKEF to provide a guarantee to the commercial loan to Jaguar Land Rover to help it manage the impact of a cyber-attack, although it fell outside of UKEF's customary risk parameters.

The first letter is from UKEF CEO Tim Reid to the Secretary of State, setting out his position as Accounting Officer for UKEF. The second is the letter from the Secretary of State, acknowledging Tim Reid's position, and setting out his direction to UKEF to provide the guarantee.