Home / Knowledge / News / Textiles / IVL becomes first Thai Co. to issue Singapore dollar bond
IVL becomes first Thai Co. to issue Singapore dollar bond
12
Oct '15
Indorama Ventures Public Company Limited (IVL), has become the first Thai company ever to receive an unconditional guarantee from Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB).This, after IVL, a world-leading producer of intermediate petrochemicals, successfully issued its first offshore foreign currency bond in the Singapore market, the company said in a press release.

The bonds will bear an interest rate of 3.73 per cent per annum, payable semi-annually in arrears and have a tenure of 10 years. The bond carries an AA issue rating from S&P.

“We were very pleased to see that the issue was sold out in a few hours and oversubscribed,” said Sanjay Ahuja, CFO of Indorama Ventures. “This was a good reflection of the confidence provided by the reputation of Indorama Ventures and the unconditional guarantee provided by CGIF. The senior, unsecured bonds of S$195 million will be used to refinance and extend the maturity of our debt.

“Indorama Ventures' maiden bond issue in the Singapore market is a landmark event for the company and the support offered by CGIF is a milestone in the debt market development of Thailand based companies,” said Ahuja.

CIMB Bank Berhad and United Overseas Bank Ltd. acted as the Joint Lead Managers and Bookrunners for the transaction. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 20th Sep 2017

India needs to double cotton farmers’ income: top official

India needs to double the income of cotton farmers and non-farmers...

Textiles | On 20th Sep 2017

Pakistan seeks more JVs with China: textile minister

The Pakistani Government wants to forge more joint ventures (JVs)...

Apparel/Garments | On 20th Sep 2017

Egypt’s garment exports touch $941 million in 8 months

Egypt's garment exports touched $941 million in the first eight...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search