- USD and EUR loans linked to ESG performance
- Lower borrowing rate thanks to IVL's superior sustainability model
Bangkok, Thailand – 29 April 2019 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, has clinched Thailand's first green loans from Japan's Mizuho Bank. The loans, for USD 100m and EUR 100m, are being provided in the forms of positive incentive loan (PIL) which the commercial terms are linked to the improvement in IVL's ESG (Environment, Social and Governance) rating. Mizuho Bank is part of the Mizuho Financial Group, one of the largest financial corporations in Japan.
Mr. Sanjay Ahuja, CFO of Indorama Ventures said, "We are pleased to acknowledge that we are the first company in Thailand to be provided funds linked to our ESG performance and thank Mizuho Bank for choosing Indorama Ventures. We place great emphasis on fiscal responsibility as well as sustainability and it is a great honor that Mizuho has recognized this. Indorama Ventures aspires to be a world-class company, and leading the way in green financing in Thailand is a proud moment for us."
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About Indorama Ventures
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world's leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia, Europe and Americas. The company's portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and Automotive sectors, i.e. Beverages, Hygiene, Personal Care, Tire and Safety segments. Indorama Ventures has approx. 19,000 employees worldwide and consolidated revenue of US$ 10.7 billion in 2018. The Company is listed in the Dow Jones Sustainability Index (DJSI).
Indorama Ventures is headquartered in Bangkok, Thailand with global operating sites in
|EMEA:||The Netherlands, Germany, Ireland, France, UK, Italy, Denmark, Lithuania, Poland, Czech Republic, Luxembourg, Spain, Turkey, Nigeria, Ghana, Portugal, Israel, Egypt, Russia, Slovakia, Austria|
|Americas:||USA, Mexico, Canada, Brazil|
|Asia:||Thailand, Indonesia, China, India, the Philippines, Myanmar|
Mizuho is one of the world's largest full-service financial conglomerates with total assets of approximately JPY 205.03 Trillion as at March 2018. Mizuho has approximately 60,000 employees in 117 locations outside of Japan and over 140 years of banking experience offering comprehensive financial and strategic services, including banking, securities, trust and asset management, credit card, private banking and venture capital, through its group companies including Mizuho Bank and Mizuho Securities. Mizuho is listed in the Dow Jones Sustainability Index (DJSI).
Tel: +662.661.6661 ext. 680
Tel: +662.661.6661 ext. 247
This document contains "forward-looking statements" about the financial condition and results of operations of Indorama Ventures Public Company Limited (the "Company"), which are based on management's current beliefs, assumptions, expectations and projections about future economic performance and events, considering the information currently available to the management. Any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would", "plans", "could", "should, "predicts", "projects", "estimates", "foresees" or similar expressions or the negative thereof, identify or signal the presence of forward-looking statements as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future or likely performance of the Company. Results given here are "Core", which means excluding inventory gain/losses and one-time extraordinary items.