By Marisa Wong
Morgantown, W.Va., Nov. 17 – Indorama Ventures PCL said it issued 2 billion baht of unsubordinated debentures on Thursday.
The debentures were issued in three tranches: 300 million baht of seven-year debentures with a coupon of 2.92%; 700 million baht of 10-year debentures with a coupon of 3.46%; and 1 billion baht of 15-year debentures with a coupon of 3.9%.
All three tranches were priced at par.
Proceeds will be used as working capital and for general corporate purposes.
The company had previously obtained shareholders’ approval to issue up to 75 billion baht of debentures. This is the company’s second 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 second issue
|
| Amount: | 2 billion baht
|
| Call option: | No
|
| Settlement date: | Nov. 16
|
|
|
| Tranche 1
|
| Amount: | 300 million baht
|
| Maturity: | Seven years
|
| Coupon: | 2.92%
|
| Price: | Par
|
| Yield: | 2.92%
|
|
|
| Tranche 2
|
| Amount: | 700 million baht
|
| Maturity: | 10 years
|
| Coupon: | 3.46%
|
| Price: | Par
|
| Yield: | 3.46%
|
|
|
| Tranche 3
|
| Amount: | 1 billion baht
|
| Maturity: | 15 years
|
| Coupon: | 3.9%
|
| Price: | Par
|
| Yield: | 3.9%
|
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