By Marisa Wong
Morgantown, W.Va., May 4 – Indorama Ventures PCL said it issued 7.5 billion baht of unsubordinated debentures on Thursday.
The debentures were issued in five tranches: 2 billion baht of three-year debentures with a coupon of 2.6%; 500 million baht of five-year debentures with a coupon of 3.24%; 1 billion baht of seven-year debentures with a coupon of 3¾%; 2 billion baht of 10-year debentures with a coupon of 4.11%; and 2 billion baht of 12-year debentures with a coupon of 4.28%.
All five tranches were priced at par.
Proceeds will be used as working capital, for business expansion or to refinance bank loans.
The company had previously obtained shareholders’ approval to issue up to 75 billion baht of debentures. This is the company’s first issuance for 2017.
Indorama is a Bangkok-based vertically integrated polyester chain producer and wool yarns manufacturer.
| Issuer: | Indorama Ventures PCL
|
| Issue: | Unsubordinated debentures, 2017 first issue
|
| Amount: | 7.5 billion baht
|
| Call option: | No
|
| Settlement date: | May 4
|
|
|
| Tranche 1
|
| Amount: | 2 billion baht
|
| Maturity: | Three years
|
| Coupon: | 2.6%
|
| Price: | Par
|
| Yield: | 2.6%
|
|
|
| Tranche 2
|
| Amount: | 500 million baht
|
| Maturity: | Five years
|
| Coupon: | 3.24%
|
| Price: | Par
|
| Yield: | 3.24%
|
|
|
| Tranche 3
|
| Amount: | 1 billion baht
|
| Maturity: | Seven years
|
| Coupon: | 3¾%
|
| Price: | Par
|
| Yield: | 3¾%
|
|
|
| Tranche 4
|
| Amount: | 2 billion baht
|
| Maturity: | 10 years
|
| Coupon: | 4.11%
|
| Price: | Par
|
| Yield: | 4.11%
|
|
|
| Tranche 5
|
| Amount: | 2 billion baht
|
| Maturity: | 12 years
|
| Coupon: | 4.28%
|
| Price: | Par
|
| Yield: | 4.28%
|
|
|
|
|
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