Jain Irrigation updates its fund raising plan; trades green

Jain International Trading BV, a wholly-owned subsidiary of Jain Irrigation Systems based in Netherlands, has priced USD 200 million 5-year (non-call 3 year) senior unsecured notes offering at 7.125 per cent per annum, due February 2022. 

Jain Irrigation will mark its successful debut in the US dollar bond markets through this issue. The notes have been rated B+ by S&P/ B+ by Fitch and are proposed to be listed on the Singapore Stock Exchange. The offering is scheduled to close on February 1, 2017. 

Anil Jain, the managing director of Jain Irrigation Systems Limited said, "We are pleased on the successful outcome of this transaction, which is a testimony to our business model. The transaction also is a reflection of our ability to raise funds from international bond markets that showcases 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."

Jain Irrigation Systems Limited, is an Indian multinational company with manufacturing plants in 30 locations across the globe. It is engaged in manufacturing of micro irrigation systems, polyvinyl chloride (PVC) pipes, high density polyethylene (HDPE) pipes, plastic sheets, agro processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs since last 34 years.