Rivulis Announces US$250 Million HSBC-Led Financing Package with Leading Global Financial Institutions
The financing package will allow Rivulis to refinance its own debt and also refinance the debt of Jain Irrigation’s International Irrigation Business (“IIB”) (India), which, according to prior announcements made on 22n/a of June 2022, will merge with Rivulis pending regulatory approvals. Although not currently in place, Rivulis has the option of approaching all lenders to incorporate KPI-based sustainability features (to be agreed) to track the company’s ESG performance.
Eran EzraChief Financial Officer of Rivulis, explained: “This financial package, offered by such prestigious banking institutions, underlines our strong momentum to become a world leader in irrigation and climate, and demonstrates the strong support received in this regard. will enable strong organic growth while simultaneously allowing us to execute our already announced merger with Jain’s IIB The terms secured by the banks, including the covenant and maturity structure, will give us the operational flexibility we need to execute our strategic plans to make modern irrigation accessible to growers around the world and will allow management to focus on the tasks ahead of us.”
Dalit UriHSBC Israel, Head of Corporate Banking, added: “We are proud to support Rivulis, a truly innovative company committed to solving our planet’s most pressing challenges: feeding humanity while saving the planet from the perils of climate change. international bank, it was natural for us to be part of Rivulis’ journey to help producers around the world. »
Rivulis is a global leader in micro-irrigation focused on building and promoting a sustainable agrifood supply chain to not only feed our planet, but to save it from the perils of climate change.
Rivulis offers the most innovative irrigation solutions for seasonal, permanent and protected growing environments, through its three product and service portfolio brands: Rivulis, Eurodrip and Manna. Founded in 1966, Rivulis has 16 large-scale manufacturing sites across six continents, three R&D centers (Israel, Californiaand Greece) and several irrigation project design centers around the world.
Leading the mass adoption of micro-irrigation around the world, Rivulis is committed to increasing accessibility for all growers around the world through simple, affordable and smart technology spanning the complete cycle, from design to harvest. To find out how Rivulis can help you EXCEED your expectations season after season, visit www.rivulis.com.
About HSBC Holdings plc:
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographic regions: Europe, Asia, North America, Latin Americaand Middle East and North Africa. With assets of $3.022 billion at March 31, 2022HSBC is one of the largest banking and financial services organizations in the world.