India's Tata Motors Ltd (TAMO.BO: Quote, Profile, Research) has signed a deal to receive a $3 billion one-year bridge loan from Citigroup (C.N: Quote, Profile, Research) and JPMorgan (JPM.N: Quote, Profile, Research) to help finance a potential purchase of luxury brands Jaguar and Land Rover, sources familiar with the deal said on Tuesday.
"It is signed, but it's still at an early process," said one of the sources, who was not authorized to speak to the media.
A separate source briefed on the deal later said the loan would be for one year.
Citigroup, JPMorgan and Tata Motors all declined to comment.
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