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Indorama Ventures refinances US$1 billion debt in North America

Indorama Ventures, the leading vertically integrated polyester value chain producer, has successfully completed the refinancing of a US$640 million term loan for its business in the USA. The company was able to increase the average tenor of this loan from 3.31 to 5.40 years from a consortium of banks led by Siam Commercial Bank, Krung Thai Bank and Bangkok Bank. The company has also refinanced a working capital facility led by Regions Bank and Bank of America Merrill Lynch totalling US$360 million.

25th December 2013

Knitting Industry
 |  Bangkok

Technical Textiles

Indorama Ventures, the leading vertically integrated polyester value chain producer, has successfully completed the refinancing of a US$640 million term loan for its business in the USA.

The company was able to increase the average tenor of this loan from 3.31 to 5.40 years from a consortium of banks led by Siam Commercial Bank, Krung Thai Bank and Bangkok Bank. The company has also refinanced a working capital facility led by Regions Bank and Bank of America Merrill Lynch totalling US$360 million.

Cash management

The term loan and working capital facilities are expected to improve the liquidity and cash management of the company’s North American businesses by combining their treasury needs.

The company is the leading producer in the polyester value chain, with a global footprint and manufacturing across Africa, Asia, Europe and North America.

The longer term loan tenor is also expected to benefit the internal cash flows required for the company’s committed growth capital expenditures.

Indorama Ventures

The company is the leading producer in the polyester value chain, with a global footprint and manufacturing across Africa, Asia, Europe and North America.

Indorama Ventures has approximately a third share in North American PET market with approximately 1.5 million tonnes of capacity and produces a range of products, such as polyethylene terephthalate (PET), polyester and polyolefin fibres and yarns, mono ethylene glycol (MEG) and purified ethylene oxide (PEO).

www.indoramaventures.com

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