By Marisa Wong
Morgantown, W.Va., Oct. 20 – Indorama Ventures PCL said it issued 5 billion baht of unsubordinated debentures on Thursday.
The debentures were issued in four tranches: 300 million baht of five-year debentures with a coupon of 2.88%; 200 million baht of 10-year debentures with a coupon of 3.68%; 2.2 billion baht of 12-year debentures with a coupon of 4.1%; and 2.3 billion baht of 15-year debentures with a coupon of 4.39%.
All four tranches were priced at par.
The first two tranches are non-callable. The third tranche is callable at any time after the seventh year, and the fourth tranche is callable after 10 years.
Proceeds will be used to repay existing debentures at their maturity and for working capital.
The company had previously obtained shareholders’ approval to issue up to 75 billion baht of debentures. This is the company’s first issuance for 2016.
Indorama is a Bangkok-based vertically integrated polyester chain producer and wool yarns manufacturer.
| Issuer: | Indorama Ventures PCL
|
| Issue: | Unsubordinated debentures, 2016 first issue
|
| Amount: | 5 billion baht
|
| Settlement date: | Oct. 20
|
|
|
| Tranche 1
|
| Amount: | 300 million baht
|
| Maturity: | Five years
|
| Coupon: | 2.88%
|
| Price: | Par
|
| Yield: | 2.88%
|
| Call option: | No
|
|
|
| Tranche 2
|
| Amount: | 200 million baht
|
| Maturity: | 10 years
|
| Coupon: | 3.68%
|
| Price: | Par
|
| Yield: | 3.68%
|
| Call option: | No
|
|
|
| Tranche 3
|
| Amount: | 2.2 billion baht
|
| Maturity: | 12 years
|
| Coupon: | 4.1%
|
| Price: | Par
|
| Yield: | 4.1%
|
| Call option: | After seven years
|
|
|
| Tranche 4
|
| Amount: | 2.3 billion baht
|
| Maturity: | 15 years
|
| Coupon: | 4.39%
|
| Price: | Par
|
| Yield: | 4.39%
|
| Call option: | After 10 years
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
