Press Release
IVL completes subscription for THB15bn subordinated perpetual debentures
BANGKOK, 11 November 2019: Indorama Ventures PCL. (IVL), a world-class chemical company, announced its successful offering of subordinated perpetual debentures to the amount of THB 15 billion, with a coupon 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.
Mr. Sanjay Ahuja, CFO of Indorama Ventures said, “The successful offering strengthens our financial profile and enable us to grow our business in line with our strategic plan. Contributing to the successful offering 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 underwriters of the issuance were Bangkok Bank Public Company Limited, Kasikorn Bank Public Company Limited, Krungthai Bank Public Company Limited and The Siam Commercial Bank Public Company Limited.
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.