Tata Motors [Get Quote] has succeeded in securing a $3bn banking facility for its purchase of Jaguar and Land Rover from Ford Motor, which should clear the way for the deal to close next week.

Tata's ability to raise the money in spite of the turmoil on debt markets represents a vote of confidence in the Indian company and removes one of the last main obstacles to the deal.

The loan, which is expected to be mostly short-term bridge financing, is ­bigger than the predicted purchase price for the two UK car marques, which is estimated at about $2bn.

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Citigroup and JPMorgan, which have been advising Tata on the deal, are leading the banks backing it, which are also said to include Standard Chartered and Calyon, according to a person familiar with the financing package.

Tata is still in the market for another $1bn of financing through the issue of long-term securities as it bolsters its finances as part of the planned acquisition of the two UK marques.

The Indian company declined to comment on Tuesday.

"All the major blocks are now in place," a second person close to the deal said on Tuesday. "It's down to dotting the i's and crossing the t's."

Ford, Tata and their advisers had been aiming to seal the complex deal before this coming weekend's Easter holiday, but four people involved in it say they now expect it to be signed next week.

The Indian and US carmakers have agreed on such critical details as the pricing and duration of an agreement on future engine supply to Jaguar and Land Rover from Ford after the sale, and future arrangements for the two brands' financing arm.

Tata and Ford are also expected to pledge financing for the two brands' pension fund, a sensitive point with the trade unions.

Ford, which is disposing of Jaguar and Land Rover as it focuses on its core US business, is expected completely to sell out of the brands, which share accounts and management.

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Tata is expected to conclude further vehicle or technology partnerships with other carmakers once the deal is completed.

Fiat, on whose board the company's chairman, Ratan Tata, sits, is seen as a likely candidate, given its partnership with Tata in India. Sergio Marchionne, Fiat's chief executive, has said he is open to working with Jaguar and Land Rover's future owners, without mentioning Tata by name.

Tata will require assistance when it comes to undertaking the multi­billion-dollar investments in new technology needed to lower Jaguar and Land Rover's emissions, and Fiat is seeking partners for such projects as the planned launch of its Alfa Romeo brand into North America.

Fiat declined to comment on Tuesday.