Thailand's Indorama board OKs up to 25 billion baht debenture add-on

By Marisa Wong

Madison, Wis., Feb. 22 - Indorama Ventures PCL said its board of directors approved the issuance of up to 25 billion baht of additional debentures at a meeting held on Friday.

The additional debentures may be issued in one or more tranches with maturities of 20 years or less unless issued as perpetual debentures.

The bonds may be offered domestically or internationally.

The proposed add-on is subject to shareholders' approval at an upcoming annual general meeting.

The Bangkok-based company's existing 25 billion baht of debentures was approved by shareholders in 2011.

Indorama is a vertically integrated polyester chain producer and wool yarns manufacturer.

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