IFLR1000

Jain International Trading $200 million 7.125% high yield issue

25/1/2017
High-yield bond/note issue
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$ 200 million

Completed

25/1/2017

Overview:

  • Jain International Trading has undertaken a $200 million senior unsecured high-yield notes issue.
  • The 7.125% notes, due in 2020, were issued on the Singapore Stock Exchange.
  • Barclays, Deutsche Bank, JPMorgan, Nomura, and Rabobank act as the bookrunners.
  • Bank of New York Mellon (London) acted as the trustee and the principal payment agent.
  • Approximately $190 million of the proceeds are for repayment of the existing debt with at least $50 million to be used to repay secured long term borrowings, and the rest for general corporate purposes.
  • Jain International Trading is a finance vehicle based in Netherlands and a wholly owned subsidiary of the Indian company Jain Irrigation Systems.

Wai Yee Tsang - Journalist

Jurisdictions:

India
Singapore

Deal type:

High-yield bond/note issue

Practice area:

Capital markets : Debt

Governing law:

Singapore

Industry sector:

Industrials and manufacturing

Firms:
AZB & Partners

Party: Deutsche Bank (Bookrunner, Joint global coordinator, Joint lead manager)

Party: JP Morgan (Bookrunner, Joint global coordinator, Joint lead manager)

Party: Barclays Bank (Bookrunner, Joint global coordinator, Joint lead manager)

Party: Nomura International (Hong Kong) (Bookrunner, Joint global coordinator, Joint lead manager)

Party: Rabobank (Bookrunner, Joint global coordinator, Joint lead manager)

Lawyer: Varoon Chandra

Baker McKenzie Wong & Leow

Party: Jain International Trading (issuer)

Clifford Chance

Party: Deutsche Bank (Bookrunner)

Party: JP Morgan (Bookrunner)

Party: Barclays Bank (Bookrunner)

Party: Nomura International (Hong Kong) (Bookrunner)

Party: Rabobank (Bookrunner)

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