- 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."