Indorama Ventures to issue perpetual bonds

5-year coupon rate range of [5.90 - 6.10]% Credit rating affirmed at A and AA- Public offering planned for 1-4 July 2024 through leading financial institutions

Bangkok, Thailand, May 23, 2024 -- Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, is preparing to issue perpetual bonds to be offered to the public, planned for between 1-4 July 2024 through leading financial institutions.

The coupon rate for the first five years is between [5.90-6.10]% per year, payable every six months. The company is confident of a positive response from investors based on a satisfactory return, a consistent redemption history of the past perpetual bonds, and the perpetual bond’s 'A' credit rating reflecting Indorama Ventures’ vision to be a sustainable chemical company making great products for society.

The perpetual bonds are redeemable upon company liquidation, with a right for the issuer to redeem the bonds early and to defer interest payments without conditions. The company has a rating of "AA-" with a stable outlook by TRIS Rating, while the perpetual bonds have a credit rating of "A".

This issuance of perpetual bonds is to prepare for the redemption of previous perpetual bonds issued in 2019, which will reach their 5-year maturity in November 2024. Indorama Ventures was one of the pioneers in perpetual bonds in Thailand, with issues in 2014 and 2019, and a track record of consistent redemptions on the first call date at the end of 5 years from the date of issuance.

This issuance will be offered to the public through leading financial institutions appointed as joint lead arrangers, including Bangkok Bank, Krungthai Bank, Kasikornbank, Siam Commercial Bank, CIMB Thai Bank, Kiatnakin Phatra Securities, Krungthai XSpring Securities, Maybank Securities (Thailand), Yuanta Securities (Thailand), Asia Plus Securities, and Thanachart Securities. Indorama Ventures is currently in the process of submitting documentation to the Securities and Exchange Commission (SEC). Investors can obtain more details at www.sec.or.th.

Mr. DK Agarwal, Deputy Group CEO and CFO at Indorama Ventures, said, “We are confident that these perpetual bonds are attractive to investors, based on the 'A' credit rating and the satisfactory returns. Indorama Ventures’ sound business fundamentals and financial strength underpin investors’ confidence in our perpetual bonds, as was the case in previous issuances.”

If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). We will respond and rectify the situation in the next 8 hours.