Indorama Ventures Public Company Limited (IVL) has been awarded Thailand’s Best Deal 2014 in Global Capital Asia/ AsiaMoney Awards 2014 for its Bt15 bn perpetual debentures, the largest ever Corporate Perpetual Debentures in Thailand. IVL’s perpetual debentures (sometimes referred to as a hybrid bond) will be used for the purpose of refinancing and expanding of business operations, which will allow IVL to lower its cost of capital through debt funding while strengthening its capital structure.

Based on the structure of IVL’s perpetual debentures, the debentures were rated A- by TRIS Rating, a local credit rating agency, while IVL has a company rating of A+. Although the perpetual debentures, or hybrid bond, is a new financial product in the Thai debt capital market, the transaction attracted robust participation from investors which reflects investors’ confidence in both IVL’s business and its financial stability.

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Source: Special Report AsiaMoney Magazine, February 2015