Hoover CS closes $160 million sustainability term loan with Riverstone

By Marisa Wong

Los Angeles, Dec. 1 – Hoover CS announced it closed on a $160 million sustainability-linked senior secured term loan with Riverstone Credit Partners LP.

The financing provides Hoover CS with additional liquidity to execute its growth strategy of enabling its customers to move from single use to sustainable packaging, and in doing so reduce greenhouse gas emissions and conserve water, according to a press release.

The company said it obtained a second party opinion from Sustainable Fitch that considered the transaction to be aligned with the five pillars of the Loan Syndications and Trading Association’s sustainability-linked loan principles.

Hoover CS is a Houston-based sustainable packaging and fleet management services company.

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