By Marisa Wong
Morgantown, W.Va., June 8 – Indorama Ventures PCL said it issued 17.5 billion baht of unsubordinated debentures on Friday.
The debentures were issued in six tranches: 3 billion baht of three-year debentures with a coupon of 2.31%; 3 billion baht of five-year debentures with a coupon of 2.78%; 1.5 billion baht of seven-year debentures with a coupon of 3.18%; 1.8 billion baht of 10-year debentures with a coupon of 3.83%; 5 billion baht of 12-year debentures with a coupon of 4.12%; and 3.2 billion baht of 15-year debentures with a coupon of 4.27%.
All six tranches were priced at par.
Proceeds will be used for business expansion and as 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 2018.
Indorama is a Bangkok-based vertically integrated polyester chain producer and wool yarns manufacturer.
| Issuer: | Indorama Ventures PCL
|
| Issue: | Unsubordinated debentures, 2018 first issue
|
| Amount: | 17.5 billion baht
|
| Call option: | No
|
| Settlement date: | June 8
|
|
|
| Three-year debentures
|
| Amount: | 3 billion baht
|
| Maturity: | Three years
|
| Coupon: | 2.31%
|
| Price: | Par
|
| Yield: | 2.31%
|
|
|
| Five-year debentures
|
| Amount: | 3 billion baht
|
| Maturity: | Five years
|
| Coupon: | 2.78%
|
| Price: | Par
|
| Yield: | 2.78%
|
|
|
| Seven-year debentures
|
| Amount: | 1.5 billion baht
|
| Maturity: | Seven years
|
| Coupon: | 3.18%
|
| Price: | Par
|
| Yield: | 3.18%
|
|
|
| 10-year debentures
|
| Amount: | 1.8 billion baht
|
| Maturity: | 10 years
|
| Coupon: | 3.83%
|
| Price: | Par
|
| Yield: | 3.83%
|
|
|
| 12-year debentures
|
| Amount: | 5 billion baht
|
| Maturity: | 12 years
|
| Coupon: | 4.12%
|
| Price: | Par
|
| Yield: | 4.12%
|
|
|
| 15-year debentures
|
| Amount: | 3.2 billion baht
|
| Maturity: | 15 years
|
| Coupon: | 4.27%
|
| Price: | Par
|
| Yield: | 4.27%
|
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