Other Release
Indorama Ventures Successfully Issue Its Inaugural Perpetual Debentures of Baht 15 Billion, the Largest Ever Corporate Perpetual Debentures in Thailand
Bangkok, Thailand – 03 November 2014: Indorama Ventures Public Company Limited (IVL), one of the world’s largest vertically integrated polyester chain producers, has successfully completed the transaction for its first issuance of perpetual bonds with total amount of THB 15,000 million.
“We are very pleased with the outcome of this transaction, which is a testimony of the market's wide recognition of the company’s successful execution of its in-depth and ongoing transformation,” says Group CEO Mr. Aloke Lohia. “This issue further strengthens IVL's capital structure, improves liquidity and flexibility towards deploying its strategy.”
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+.
The issue size, although originally targeted at THB 10,000 million, was upsized to THB 15,000 million, the largest ever issue of corporate perpetual debentures in Thailand, to accommodate excess demand from investors with an over-subscription of around 1.50 times. Although the perpetual 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.
Bangkok Bank Public Company Limited, Siam Commercial Bank Public Company Limited, and Krung Thai Bank Public Company are joint-lead arrangers and Asia Plus Public Company Limited is a co-manager of the transaction.
For further information, please go to: https://www.indoramaventures.com/EN/investorRelations/IR_BondholderCenter.php
Or contact the Corporate Communications Department +662.661.6661 ext. 680
“We are very pleased with the outcome of this transaction, which is a testimony of the market's wide recognition of the company’s successful execution of its in-depth and ongoing transformation,” says Group CEO Mr. Aloke Lohia. “This issue further strengthens IVL's capital structure, improves liquidity and flexibility towards deploying its strategy.”
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+.
The issue size, although originally targeted at THB 10,000 million, was upsized to THB 15,000 million, the largest ever issue of corporate perpetual debentures in Thailand, to accommodate excess demand from investors with an over-subscription of around 1.50 times. Although the perpetual 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.
Bangkok Bank Public Company Limited, Siam Commercial Bank Public Company Limited, and Krung Thai Bank Public Company are joint-lead arrangers and Asia Plus Public Company Limited is a co-manager of the transaction.
For further information, please go to: https://www.indoramaventures.com/EN/investorRelations/IR_BondholderCenter.php
Or contact the Corporate Communications Department +662.661.6661 ext. 680