By THE NATION
On September 26, Tris assigned a company rating to IVL of "AA-" with "Stable" outlook and an issue rating of "A" with "Stable" outlook for the proposed subordinated perpetual debentures.
The proposed issuance will come with a coupon rate of 5 per cent a year, payable quarterly. The coupon rate is attractive in the decreasing interest rate environment wherein the policy rate sits at 1.50 per cent, government bond yields at 1.40 per cent for five years and 1.49 per cent for 10 years.
The company appointed Bangkok Bank, Krungthai Bank, Kasikornbank and Siam Commercial Bank as sales managers with the subscription period for investors scheduled from November 4 to 7, 2019.
IVL ranks 35th among chemical companies globally, based on total sales in 2018 as per Chemical Week, an international chemical industry publication.
Aloke Lohia, Group CEO of Indorama Ventures said: "To keep pace with the growth and diversification, the management bandwidth has been expanded at the Corporate Office, Regional Offices and Business segments. The strategic direction and prudent growth initiatives taken in the last 5 years has resulted in creating multiple revenue streams and cash flow streams which will lead to long term sustainable growth".