USD 200 million Senior Unsecured Notes/Bond issue closed by Jain International Trading B.V., Netherland (Wholly Owned Subsidiary of the Company)
25th Jan, 2017, Jalgaon
Our Wholly Owned Subsidiary (WOS), Jain International Trading B.V. (the Company) has priced U.S.$ 200 million 5-year (non-call 3 year) s
enior unsecured Notes offering at 7.125% per annum, due February 2022 (the Notes). This issue marks its successful debut of Jain Irrigation in the U.S. dollar bond markets.
The Notes have been rated B+ by S&P/ B+ by Fitch. The Notes are proposed to be listed on the Singapore Stock Exchange.
The proceeds from the issuance will be used to repay existing third party indebtedness and for general corporate purposes.
The offering is scheduled to close on Feb 1, 2017. Deutsche Bank and JP Morgan acted as Joint Global Coordinators and Deutsche Bank, JP Morgan, Barclays, Nomura and Rabobank acted as Joint Bookrunners to the offering.
Commenting on the occasion, Mr. Anil Jain, Managing Director, Jain Irrigation Systems Limited said, "We are pleased on the successful outcome of this transaction which is testimony to our business model. The transaction also is a reflection of our ability to raise funds from
international bond markets and showcasing our story to a new global investor pool. The initiative is reflective of our continual efforts to diversify our investor base and reduce our financing costs."
About Jain Irrigation:
Our Company, Jain Irrigation Systems Limited (JISL) with it’s motto ‘Small Ideas, Big Revolutions’, with more than 10,000 associates worldwide and a revenue of over 60
billion rupees, is an Indian multinational company with manufacturing plants in 30 locations across the globe. It is engaged in manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy
solutions, Tissue Culture Plants, Financial Services and other agricultural inputs since last 34 years. It has pioneered a silent Productivity Revolution with modern irrigation systems and innovative technologies in order to save precious water and has helped to
get significant increase in crop yields, especially for millions of small farmers. It has also ushered in new concept of large scale Integrated Irrigation Projects (IIP). ‘More Crop Per Drop™ is the company’s approach to water security a
nd food security. All the products and services of JISL help create a sustainable future while fulfilling its vision of ‘Leave this world better than you found it’. JISL is listed in NSE-Mumbai at JISLJALEQS and in
BSE at code 500219.
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