Other Release

Bangkok. Thailand – 16 March 2020 – Indorama Ventures Public Company Limited (IVL), a global chemical producer, has successfully completed Thailand’s first ever cross-border Sustainability-Linked Ninja Loan.

This syndicated loan of US$255 million with 5 year bullet maturity, comprises of 16 Japan based banks and institutions is structured with linkage with the sustainability performance of IVL and have a mechanism to adjust to lower interest rate based on IVL’s ESG (Environmental, Social, and Governance) score.

Mizuho Bank, one of the largest banks from Japan, is the arranger of this syndicated cross-border Sustainability-Linked Ninja Loan. The loan proceeds will be primarily used for refinancing and will not increase the overall debt.

Mr. Sanjay Ahuja, Chief Financial Officer at Indorama Ventures said, “We are proud to be the first Thai company to obtain this Sustainability-linked Ninja Loan. Following Thailand’s first ever green loan funded by Mizuho Bank last year, we believe that our sustainability performance and PET recycling initiatives have been recognized.

IVL’s financial strategy focuses on diversification of the funding base with access to different financial markets, extending maturity profile and optimizing cost of financing. The Sustainability-Linked Ninja Loan has favourable financing terms and will help lower overall borrowing costs.

I would like to thank Mizuho and all 16 banks and financial institutions who have come together to offer this Sustainability-linked Ninja Loan. IVL is committed to continuously developing itself to improve our value for all stakeholders over the long run.”