Home / Knowledge / News / Textiles / Indorama refinances 640mn term loan for US business
Indorama refinances 640mn term loan for US business
24
Dec '13
Indorama Ventures Public Company Limited (IVL), the world’s leading vertically integrated Polyester Value Chain producer, has successfully completed the refinancing of a US$640 million term loan for its business in the U.S.A.

The Company was able to increase the average tenor of this loan from 3.31 to 5.40 years from a consortium of banks led by Siam Commercial Bank Public Company Limited, Krung Thai Bank Public Company Limited and Bangkok Bank Public Company Limited. Moreover, the Company has refinanced a working capital facility led by Regions Bank and Bank of America Merrill Lynch totalling US$360 million.

The term loan and working capital facilities are expected to improve the liquidity and cash management of the Company’s North American businesses by combining their treasury needs. The longer term loan tenor will also benefit the internal cash flows required for the Company’s committed growth capital expenditures.

Indorama Ventures has approximately a third share in North American PET market with approximately 1.5 million tonnes of capacity and produces a range of products within the Polyester Value Chain sphere, such as Polyethylene Terephthalate (PET), Polyester and Polyolefin Fibers and Yarns, Mono Ethylene Glycol (MEG) and Purified Ethylene Oxide (PEO).

About Indorama Ventures

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB) is the world’s leading producer in the polyester value chain, with a global footprint and manufacturing across Africa, Asia, Europe and North America. Its products serve major players in consumer staples.

The company’s main products are PTA, PET, Polyester fibers and yarns and Ethylene Oxide/Glycols, which are distributed across the world. IVL has 9,000 employees worldwide and last 12 months consolidated revenue of US$ 7.3 billion as of Q3 2013.

Indorama Ventures Public


Interviews View All

Nitin Bhatia, Trend Arrest

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Paolo Toricella,

Paolo Toricella

Electronics for Imaging (EFI) is a global technology company, based in...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Dr. Rene Wollert, Freudenberg Nonwovens

Dr. Rene Wollert
Freudenberg Nonwovens

Dr. Rene Wollert discusses the current scenario of the global nonwovens...

Mr Ambrose Chan, DSG International (Thailand) PLC

Mr Ambrose Chan
DSG International (Thailand) PLC

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search