Hikvision secures $3b credit facility

Hikvision secures b credit facility

CITY OF INDUSTRY, Calif.—Hikvision announced that it has secured a five-year, $3 billion credit facility with Export-Import Bank of China, which will enable the video surveillance company to earmark additional funds for global research and development, infrastructure, equipment and technology procurement.

With more than 7,000 engineers, and a commitment to continued investment in innovation, Hikvision on average dedicates around 7-8 percent of annual revenues to R&D, according to a recent announcement from the company.

Hikvision maintains lines of credit with other international financial institutions including Citibank, HSBC, and Deutsche Bank, among others.

In November 2015, Hikvision secured approximately a $3 billion line of credit with China Development Bank. Additionally, in early 2016 Hikvision diversified its financing channels by issuing more than $450 million in European bonds.

According to Hikvision, 2015 global revenues were $3.88 billion, representing a year-over-year growth rate of 47 percent.

Security Systems News continues to report on this story. Check back for an interview with Hikvision president Jeffrey He and more on what the company has planned. 

Source: Security Systems News