IVL Issues ฿15bn Subordinated Perpetual Debentures with an A Rating by TRIS!

Indorama Ventures Public Company Limited (IVL), a world-class chemical company, announced its issuance of subordinated perpetual debentures with the amount of THB 15 billion, considered the largest subordinated perpetual debentures issued this year, with a coupon during the first five years of 5% per annum, paid quarterly.

The subordinated perpetual debentures were assigned by TRIS an issue rating of “A” with a “Stable” outlook, while the company rating was “AA” with a “Stable” outlook. The debentures have been registered with Thai Bond Market Association on the issue date.

 

Mr. Sanjay Ahuja, CFO of Indorama Ventures said, “The issuance strengthens our financial profile and enable us to grow our business in line with our strategic plan. Contributing to the issuance was the investor’s confidence in the growth prospects as well as potential, of IVL as a world-class chemical company that supplies products important for manufacturing in various consumer products and industrial products. I would like to express our heartfelt thanks to the investors for their trust.” The lead arrangers of the issuance were Bangkok Bank Public Company Limited (BBL), Kasikorn Bank Public Company Limited (KBANK), Krungthai Bank Public Company Limited (KTB) and The Siam Commercial Bank Public Company Limited (SCB).

 

As reported by Chemical Week magazine, IVL is the world’s 35th largest chemical company by total revenue in 2018. During 2014-2019, it has broadened its portfolio of businesses into Integrated PET, Fibers & yarns for apparel & home, hygiene and automotive, Integrated oxides and derivatives, Specialty Chemicals and Packaging. IVL has 102 operating sites in 31 countries across the world, including in Asia, the Americas, Europe and Africa, the company has relentlessly strengthened its competitive advantage and built a globally-integrated production platform to serve customers’ needs in all key markets.

 

In addition to business growth, IVL is committed itself to sustainable development, where benefits for the economy, society and environment are balanced. As part of that, IVL has declared its endorsement of the New Plastics Economy Global Commitment, a vision of a circular economy for plastic in which plastic never becomes waste or pollution. The company set a target of increasing its annual volume of recycled products to 750,000 tonnes and be ready to invest additional USD 1.5 billion to ensure it achieves this target by 2025.