Indorama Ventures' perpetual bonds attract strong investor support; achieve 15 billion?baht target

The joint lead arrangers highlighted the bonds' attractive returns and strong credit rating, coupled with Indorama Ventures' robust business fundamentals as pivotal factors in the offering's success, which will help fuel the growing retail interest in perpetual bonds in Thailand. Following the completion of this latest offering, Indorama Ventures is now preparing to redeem its outstanding perpetual bonds, which were issued in 2019 and will reach their first 5?year period in November this year.

The perpetual bonds offering is part of Indorama Ventures' program to diversify its sources of financing, and secure high liquidity and a strong financial position. The company is making progress on its IVL 2.0 evolved business strategy to optimize assets, deleverage its balance sheet, and transform its operations to enhance quality of earnings and deliver sustained superior returns to shareholders.

Mr. DK Agarwal, Deputy Group CEO and Group CFO at Indorama Ventures, said, "Having successfully completed our perpetual bonds offering to the public, we would like to thank our investors for their confidence and trust in Indorama Ventures. Our diversified portfolio of financing is instrumental to our IVL 2.0 plan to drive enhanced returns and secure our company's long-term growth trajectory."

Indorama Ventures' perpetual bonds received an 'A' credit rating, and an issuer rating (Indorama Ventures) of 'AA-' with a 'stable' outlook, from TRIS Rating on 30 April 2024. The bonds carry an annual coupon of 6.10% for the first 5 years from the issuance date. The subscription was managed through leading financial institutions, including Bangkok Bank, Krung Thai Bank, Kasikornbank, Siam Commercial Bank, CIMB Thai Bank, Kiatnakin Phatra Securities, Krungthai XSpring Securities, Maybank Securities (Thailand), Yuanta Securities (Thailand), Asia Plus Securities, and Thanachart Securities.

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